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<strong>Satisfactory repayment arrangement</strong> – A specified number of consecutive, on-time, voluntary, reasonable and affordable full monthly payments made by a borrower to the holder of a loan in default. Satisfactory repayment arrangements may be established by a borrower to either regain Title IV eligibility, or rehabilitate a defaulted loan, or to consolidate a defaulted loan.
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investment dollar pool system (F3)<br />A method of exchange control. Under this system the people of a non-dollar country wishing to purchase US securities are only allowed to acquire them by buying them from another local resident or by borrowing them. A tougher version of this system used in the UK prior to 1979 required 25 per cent of foreign currency proceeds from the sale of assets to be sold in the official market; also dividends on dollar investments had to be repatriated through the official exchange market.
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<strong>Independent student</strong> – A student who meets one or more of the federal criteria to be classified as independent for aid awarding purposes. Criteria under section 480(d) of the HEA include: • Age 24 by December 31 of the academic year • Graduate or professional student • Married student • Student with legal dependents • Veteran • Orphan or ward of the court
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