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Income: Amount of money received from any or all of the following: wages, interest, dividends, sales or rental of property or services, business or farm profits, certain welfare programs, and subsistence allowances such as taxable and non-taxable social security benefits and child support.

Income Protection Allowance: An allowance against income for the basic costs of maintaining family members in the home. The allowance is based upon consumption and other cost estimates of the Bureau of Labor Statistics for a family at the low standard of living.

Independent Student: A student who: (a) will be 24 years of age by December 31, 1999, or who (b) is an orphan; or a ward of the court; (c) is a veteran; (d) is married or is a graduate or professional student; (e) has legal dependents other than a spouse; or (f) presents documentation of other unusual circumstances demonstrating independence to the student financial aid administrator.

Institutional Costs: Charges for tuition, fees, institutionally owned or operated room and board, and other educationally related charges assessed by the institution.

Institutional Student Information Record (ISIR): Output document or information that a school receives by participating in the electronic data exchange process with the FAFSA Central Processor. Contains the results of the FAFSA a student filed, whether it was filed on paper or electronically. It is the electronic version of the SAR.

Investment Plans: Educational savings programs, usually sponsored by commercial banking institutions and having varying federal and state tax implications.

ISIR: See Institutional Student Information Record.