Section 14.43.173. Loan award maximums; use of loan award.

   (a) In a school year, the corporation may finance a loan to an eligible borrower under AS 14.43.170 - 14.43.175 attending an eligible postsecondary institution not to exceed
        (1) $14,000 to an eligible undergraduate student attending a college or university;
        (2) $15,000 to an eligible graduate student attending a college or university;
        (3) $10,000 to an eligible student attending a career education program.
   (b) The corporation may finance loans made under AS 14.43.170 - 14.43.175 to a borrower in an amount that is not more than
        (1) a total of $56,000 for undergraduate study;
        (2) a total of $60,000 for graduate study; or
        (3) a combined total of $87,000 for undergraduate and graduate study.
   (c) To maintain a loan award under AS 14.43.170 - 14.43.175, the borrower must continue to be in good standing as determined by the institution and approved by the commission.
   (d) The commission shall determine a borrower's loan award amount for a specific school year based on a student's on-time, half-time, and full-time student status and may not exceed the limits established in this section or the borrower's costs of attendance.

Notes

Implemented As

20 AAC 15.537
20 AAC 15.710
20 AAC 15.735
20 AAC 15.740
20 AAC 15.935

References

20 AAC 15.537
20 AAC 15.735
20 AAC 15.945

History

(Sec. 29 ch 85 SLA 2001; am Sec. 24 - 26 ch 89 SLA 2014)