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hedonic wages (J3)
The factor payment offered by an employer for a bundle of job characteristics, including status, training opportunities and working conditions. This wage is determined by the interaction between the demand of and supply for both worker characteristics and job characteristics.
ReferenceLucas, R.E.B. (1977) 'Hedonic wage equations and psychic wages in the returns to schooling', American Economic Review 67: 549-58.
CFR – Code of Federal Regulations. The regulations from the U.S. Department of Education relating to the federal student aid programs are codified in Volume 34. Part 668 governs the student assistance general provisions. Part 682 regulates the FFEL Program.
Higher Education Reconciliation Act (HERA) of 2005 – The portion of the Deficit Reduction Act of 2005 specifically addressing student financial aid provisions, including student loan interest rates and fees, consolidation rules, school as lender, and other policies and procedures.
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Satisfactory repayment arrangement – 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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