; and (iii) is organized in such a manner that an institution can determine, based on the method of measurement selected by the institution under subparagraph (A)(i), what constitutes a full-time, three-quarter time, half-time, and less than half-time workload for the purposes of awarding and administering assistance under title IV of this Act, or assistance provided under another provision of Federal law to attend an institution of higher education. (C) Competency defined In this paragraph, the term competency means the knowledge, skill, or characteristic demonstrated by a student in a subject area. . (f) Pay for success initiative Section 103 ( 20 U.S.C. 1003 ) is amended by adding at the end the following: (26) Pay for success initiative The term pay for success initiative has the meaning given the term in section 8101 of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 7801 ). . (g) Evidence-based Section 103 ( 20 U.S.C. 1003 ) is amended by adding at the end the following: (27) Evidence-based The term evidence-based has the meaning given the term in section 8101(21)(A) of the Elementary and Secondary Education Act of 1965 ( 20 U.S.C. 7801(21)(A) ), except that such term shall also apply to institutions of higher education. . 104. Regulatory relief (a) Regulations repealed (1) Repeal The following regulations (including any supplement or revision to such regulations) are repealed and shall have no legal effect: (A) Definition of credit hour The definition of the term credit hour in section 600.2 of title 34, Code of Federal Regulations, as added by the final regulations published by the Department of Education in the Federal Register on October 29, 2010 (75 Fed. Reg. 66946). (B) Gainful employment Sections 600.10(c), 600.20(d), 668.401 through 668.415, 668.6, and 668.7, of title 34, Code of Federal Regulations, as added or amended by the final regulations published by the Department of Education in the Federal Register on October 31, 2014 (79 Fed. Reg. 64889 et seq.). (C) Borrower defense