(a) The definitions of the following terms used in this part are set forth in subpart A of the Student Assistance General Provisions, 34 CFR part 668:
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Academic Competitiveness Grant (ACG) ProgramAcademic yearAward yearClock hourEnrolledExpected family contribution (EFC)Federal Family Education Loan (FFEL)Federal Pell Grant ProgramFederal Perkins Loan ProgramFederal PLUS ProgramFederal SLS ProgramFederal Work-Study (FWS) ProgramFull-time studentHEANational Science and Mathematics Access to Retain Talent Grant (National SMART Grant) ProgramPayment periodSecretaryTeacher Education Assistance for College and Higher Education (TEACH) Grant ProgramTEACH GrantUndergraduate student
(b) The Secretary defines other terms used in this part as follows:
*Financial need: The difference between a student’s cost of attendance and his or her EFC.
*Institution of higher education (institution): A public or private nonprofit institution of higher education, a proprietary institution of higher education, or a postsecondary vocational institution.
* Need-based employment: Employment provided by an institution itself or by another entity to a student who has demonstrated to the institution or the entity (through standards or methods it establishes) a financial need for the earnings from that employment for the purpose of defraying educational costs of attendance for the award year for which the employment is provided.
(Authority: 20 U.S.C. § 1070g, 1087aa-1087ii)[52 FR 45778, Dec. 1, 1987, as amended at 53 FR 52582, Dec. 28, 1988; 57 FR 32357, July 21, 1992; 59 FR 61421, Nov. 30, 1994; 60 FR 61815, Dec. 1, 1995; 61 FR 60608, Nov. 29, 1996; 69 FR 12276, Mar. 16, 2004; 71 FR 38003, July 3, 2006; 72 FR 62030, Nov. 1, 2007; 73 FR 35495, June 23, 2008]
