Section 14.43.750. Eligibility.

   (a) A person may apply for and obtain a family education loan on behalf of a family member if
        (1) the borrower and the family member
             (A) are residents of the state at the time of application for the loan; for purposes of this paragraph, a borrower and family member qualify as residents of the state if the borrower and the family member have been physically present in the state for at least one year immediately before the time of application for the loan with the intent to remain indefinitely or, if not physically present in the state, the borrower and family member have not declared or established residency in another state, intend to return permanently to the state, and the absence meets the requirements imposed under AS 14.43.125(a)(3)(C)(i) - (vi);
             (B) satisfy the requirements of AS 14.43.125(a)(6) - (9);
        (2) the family member
             (A) is enrolled as a full-time student in a career education, associate, baccalaureate, or graduate degree program; or
             (B) is a graduate of a high school or the equivalent, or scheduled for graduation from a high school within six months, who, at the time of loan disbursement, will be enrolled in compliance with (A) of this paragraph; and
        (3) neither the borrower nor the family member
             (A) is delinquent or has ever been in default on a loan previously awarded by the commission unless the defaulted loan has been voluntarily paid in full;
             (B) is past due on a child support obligation established by court order or by the child support services agency under AS 25.27.160 - 25.27.220 at the time of application or loan disbursement;
             (C) has, within the previous five years, had a loan discharged or written off by the commission for any reason.
   (b)   [Repealed, Sec. 26 ch 5 SLA 1996]. 

Authorities

14.43.740

Notes

Implemented As

20 AAC 15.540
20 AAC 15.590
20 AAC 15.940
20 AAC 15.988

References

AS 14.43.740 Loan terms, limits, and conditions.

History

(Sec. 17 ch 92 SLA 1987; am Sec. 9 ch 112 SLA 1994; am Sec. 26 ch 5 SLA 1996; am Sec. 15 ch 54 SLA 1997; am Sec. 3 ch 89 SLA 2002; am Sec. 39 ch 89 SLA 2014)