Section 14.43.091. Education loan program.

   (a) There is created the education loan program to provide loans to individuals who are students to assist in paying the costs of postsecondary education. The provisions of this section, AS 14.43.100 - 14.43.160, 14.43.910, 14.43.920, and 14.43.990 apply to the loans.
   (b) Upon approval by the commission of an education loan, the corporation shall finance a loan disbursement, subject to any limit that the corporation sets on the total amount of loans that the corporation will finance in a school year. A loan financed under this section becomes an asset of the corporation.
   (c) Repayments of principal and interest on a loan are paid into the education loan fund established in AS 14.42.210. If money made available by the corporation is inadequate to fully finance eligible loan applications, additional financing from the general fund may be requested and appropriated for that year.

Authorities

14.42.030;14.42.200;14.42.210;14.42.215;14.43.125;14.43.160;14.43.305;14.43.320;36.30.850

Notes

References

20 AAC 14.220
20 AAC 15.174
20 AAC 15.199
20 AAC 15.735
20 AAC 15.910
20 AAC 18.025
AS 14.42.030 Functions, duties, and powers of the commission.
AS 14.42.200 General powers.
AS 14.42.210 Education loan fund and program administration.
AS 14.42.215 Interest.
AS 14.43.125 Eligibility of students.
AS 14.43.160 Definitions.
AS 14.43.305 Repayment of loans.
AS 14.43.320 Administering authority.
AS 36.30.850 Application of this chapter.

History

(Sec. 17 ch 85 SLA 2001)