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<strong>Scholarship</strong> – Financial assistance that is usually based on merit or ability and that does not have to be repaid.
<strong>School as Lender (SAL)</strong> – A school, other than a correspondence school, that has been approved to act as a lender under the FFEL Program for its graduate and professional students. (Note: to participate as an SAL, the school had to be participating as of April 1, 2006. No new schools are being approved to act as their own lender.)
Fisher equation of exchange (E5)<br />A famous statement of the QUANTITY THEORY oF MONEY as MV = PT. M is the stock of money, P the general price level, V the velocity of circulation and T the volume of transactions.
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