(D) Payment period The term payment period means the applicable payment period described in section 668.4 of title 34, Code of Federal Regulations, or any successor regulation. (2) Satisfactory academic progress policy An institution shall establish a reasonable satisfactory academic progress policy for determining whether an otherwise eligible student is making satisfactory academic progress in the student’s educational program and may receive assistance under this title. The Secretary shall consider the institution’s policy to be reasonable if— (A) the policy is at least as strict as the policy the institution applies to a student who is not receiving assistance under this title