A collapsed lung, also known as a pneumothorax, occurs when air escapes out of a lung and becomes trapped inside the space between the chest and lung cavities. This can be caused by air blisters in the lungs that break open, sudden air pressure changes, or trauma to the chest or ribcage.
The IRS interpreted this provision as applying only to full-time students. In a 1993 technical advice memorandum, the IRS provided a safe-harbor definition of a full-time undergraduate student as one who is taking 12 credit hours and working no more than 20 hours per week.
Student Loans for Part-Time Students. Many students do not have the luxury to attend college full-time for a number of reasons; they may need to work or take care of a family, for example. When determining financial aid eligibility, part-time status â sometimes called half-time â is generally considered six credits at a time. While there may be more options for full-time students taking between nine and 12 credits, part-time students have options as well. If you take at least six credits, for example, you are eligible for federal student loans through the William D. Ford Direct Loan Program.