Section 14.44.040. Repayment condition for program participants.

   (a) As a condition of eligibility for receiving financial support from the state under the Professional Student Exchange Program of the Western Interstate Commission on Higher Education, a program participant shall agree to repay to the state the support provided by the state on behalf of that person, plus interest.
   (b) A repayment under this section shall be paid into the education loan fund created under AS 14.42.210.
   (c) If a program participant defaults on the repayment obligation, the provisions of AS 14.43.145 - 14.43.155 apply to collect on the obligation as if it were a defaulted loan under AS 14.43.

Authorities

14.42.210;14.42.215;37.10.089

Notes

Implemented As

20 AAC 18.005
20 AAC 18.007
20 AAC 18.010
20 AAC 18.020
20 AAC 18.025
20 AAC 18.030
20 AAC 18.040
20 AAC 18.050
20 AAC 18.060
20 AAC 18.070
20 AAC 18.100
20 AAC 18.120
20 AAC 18.130
20 AAC 18.140
20 AAC 18.150
20 AAC 18.200
20 AAC 18.980
20 AAC 18.990

References

20 AAC 15.199
20 AAC 18.025
AS 14.42.210 Education loan fund and program administration.
AS 14.42.215 Interest.
AS 37.10.089 Loans to the education loan fund; bond purchase agreements and letters of credit.

History

(Sec. 2 ch 54 SLA 1998; am Sec. 5 ch 23 SLA 1999; am Sec. 39, 40 ch 85 SLA 2001; am Sec. 29 ch 63 SLA 2004)