34 CFR 675.24 - Establishment of wage rate under FWS.
(a) Wage rates. (1) Except as provided in paragraph (a)(3) of this section, an institution shall compute FWS compensation on an hourly wage basis for actual time on the job. An institution may not pay a student a salary, commission, or fee.
(2) An institution may not count fringe benefits as part of the wage rate.
(3) An institution may pay a graduate student it employs a salary or an hourly wage, in accordance with its usual practices.
(b) Minimum wage rate. The minimum wage rate for a student employee under the FWS program is the minimum wage rate required under section 6(a) of the Fair Labor Standards Act of 1938.