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<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.)
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labour disutility theory (DO)<br />A LABOUR THEORY OF VALUE expounded by SMITH. It asserts that value is proportional to the 'toil and trouble', or DISUTILITY, of producing a good.<br /><em>See also:</em> labour theory of value
felicific calculus (DO)<br />BENTHAM's method of judging the worth of an action by calculating the likely pleasure or pain which would result. See also: utilitarianism
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