reglab/statecodes huggingface dataset:
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.170 - Definitions

Current through May 31, 2024
In
				  20 AAC 15.100 -
				  20 AAC 15.170, unless the context requires
				  otherwise,
(1) "guarantor" means a state
				or private nonprofit organization that has an agreement with the secretary to
				administer a loan guarantee program under
				20 U.S.C.
				1001 -
				1155 (Higher Education Act of
				1965);
(2) "insurance premium" means
				the fee charged by the guarantor for each loan that the guarantor
				guarantees;
(3) "master promissory
				note" means a single-year or multi-year promissory note by which a student
				borrower promises to repay loan money;
(4) "PLUS loan" means a loan provided under
				20 U.S.C.
				1078-2;
(5) repealed 11/16/2012;
(6) "subsidized Stafford loan" means a Stafford
				loan with an interest offset that, under
				20 U.S.C.
				1078(a), the United States
				government pays on the borrower's behalf to the commission;
(7) "unsubsidized Stafford loan" means a
				Stafford loan provided under 20 U.S.C. 1078-8 without an interest
				subsidy;
(8) "graduate or
				professional student" means a student who, for a period of enrollment,
(A) is enrolled in a program or course above
				the baccalaureate level or is enrolled in a program leading to a professional
				degree;
(B) has completed the
				equivalent of at least three years of full-time study, either before entrance
				into the program or as part of the program itself; and
(C) is not receiving aid under
				20 U.S.C.
				1070 - 1100 (Title IV) as an undergraduate
				student for the same period of enrollment.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 4 - AlaskAdvantage Consolidation Loan Program › 20 AAC 15.171 - Purpose of the AlaskAdvantage consolidation loan program

Current through May 31, 2024
The AlaskAdvantage consolidation loan program is available to
				  an eligible borrower to refinance eligible loans.
Authority:
AS
					 14.42.030
AS 14.43.105
AS
					 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 4 - AlaskAdvantage Consolidation Loan Program › 20 AAC 15.174 - Applicant eligibility

Current through May 31, 2024
(a) An applicant for a consolidation loan must
				meet the eligibility requirements of
				AS
				14.43.122 and
(1) may not have a payment that is 60 days or
				more past due on any loan held by the commission;
(2) may not have a loan, held by the
				commission, with an outstanding loan balance that is subject to third-party
				collection services at the time the consolidation loan application is
				received;
(3) must include within the
				consolidation loan application any loans made to the applicant under
				AS
				14.43.091-14.43.160 for which an outstanding
				loan balance exists; and
(4) be a
				United States citizen or permanent resident alien admitted to the United States
				as a lawful permanent resident according to
				8 U.S.C.
				1101 -
				1537 (United States Immigration and
				Nationality Act).
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 4 - AlaskAdvantage Consolidation Loan Program › 20 AAC 15.177 - Application procedure

Current through May 31, 2024
(a) The commission staff shall establish an
				application period based on money available for the AlaskAdvantage consolidation
				loan program. Once available money has been fully expended, commission staff
				shall close an application period.
(b) An individual applying for a consolidation
				loan must complete and submit an application and promissory note provided by the
				commission. The requirements of
				20 AAC 15.930, other than
				20 AAC 15.930(b), (c), (f), and (g), apply
				to an application for a consolidation loan.
Authority:
AS
					 14.42.030
AS
					 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 4 - AlaskAdvantage Consolidation Loan Program › 20 AAC 15.180 - Priority ranking of applicants

Current through May 31, 2024
If available money is not sufficient to fund all eligible
				  applications, loans will be awarded to applicants in the order in which the
				  commission receives completed applications.
Authority:
AS
					 14.42.030
AS
					 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 4 - AlaskAdvantage Consolidation Loan Program › 20 AAC 15.183 - Computation of authorized loan amounts

Current through May 31, 2024
(a) The principal
				balance of a consolidation loan is the total of the outstanding principal,
				interest, and fees relative to each loan included in the consolidation as of the
				date the consolidation loan is originated.
(b) The minimum authorized loan amount for an
				applicant is $3,500.
Authority:
AS
					 14.42.030
AS
					 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 4 - AlaskAdvantage Consolidation Loan Program › 20 AAC 15.186 - Effect of consolidation on eligible loans

Current through May 31, 2024
(a) A promissory note
				for an eligible loan becomes void on the date it is paid in full and the
				consolidation loan is originated.
(b)
				As soon as is practicable following a consolidated loan origination, the
				commission staff will return to the borrower the cancelled promissory notes for
				each eligible loan that is included in the consolidation loan.
Authority:
AS
					 14.42.030
AS
					 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 4 - AlaskAdvantage Consolidation Loan Program › 20 AAC 15.189 - Loan fees, interest, and interest capitalization

Current through May 31, 2024
(a)
				Repealed 2/27/2010.
(b) Repealed
				12/26/2014.
(c) Interest on the loan
				will be set by the corporation under
				20 AAC 14.050.
(d) Interest on a consolidation loan begins to
				accrue on the date of loan origination.
(e) After origination, the commission staff may
				capitalize any outstanding interest, not paid when due, as part of the principal
				to be repaid as provided for in the promissory note.
Authority:
AS
					 14.42.030
AS 14.42.200
AS 14.42.210
AS 14.42.215
AS
					 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 4 - AlaskAdvantage Consolidation Loan Program › 20 AAC 15.192 - Loan servicing and repayment

Current through May 31, 2024
(a) Repayment of the
				principal and interest on a consolidation loan begins no later than 60 days
				following loan origination.
(b) The
				minimum monthly payment on a consolidation loan is $100.
(c) Subject to (b) of this section, the
				consolidation loan must provide for repayment of the total amount owed in
				periodic installments in not more than ten years from the commencement of
				repayment. However, the commission may establish an alternative repayment
				schedule with the borrower to assist a borrower in repaying the loan without
				undue economic hardship. If the commission and the borrower agree to an
				alternative repayment schedule, the
(1)
				commission staff shall disclose to the borrower, in writing, the financial effect
				of the alternative repayment schedule on the costs of financing the loan;
				and
(2) borrower shall repay the loan
				in accordance with the alternative repayment schedule.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 4 - AlaskAdvantage Consolidation Loan Program › 20 AAC 15.195 - Loan forbearance and deferment

Current through May 31, 2024
(a) Subject to the
				approval of the executive director, the commission staff may provide a borrower
				with a loan forbearance to provide temporary or long-term repayment
				relief.
(b) If a borrower's request
				for a period of forbearance on a loan is approved, interest continues to accrue
				during the period of forbearance and will be capitalized as part of the loan
				principal at the end of the forbearance period.
(c) If a period of loan forbearance is agreed
				to, commission staff shall disclose to the borrower, in writing, the financial
				effect of the forbearance on the costs of financing the loan.
(d) Repealed 12/29/2010.
(e) Repealed 12/29/2010.
(f) Subject to the approval of the executive
				director, the commission staff may approve a student deferment for no longer than
				a cumulative total of 24 months over the life of the loan, while the borrower is
				enrolled as at least a full-time student at an institution that has received
				approval under
				20 AAC 15.922. In the event commission staff approves a
				borrower's request for a period of deferment on the loan, interest will continue
				to accrue during the period of deferment and will be capitalized at the end of
				the deferment period.
As of Register 169 (April 2004), the last sentence was added
					 to subsection (f) of
					 20 AAC 15.195 to correct an inadvertent
					 omission.
Authority:
AS
					 14.42.030
AS
					 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 4 - AlaskAdvantage Consolidation Loan Program › 20 AAC 15.199 - Definitions

Current through May 31, 2024
In
				  20 AAC 15.171 -
				  20 AAC 15.199, unless the context requires
				  otherwise,
(1) repealed
				4/2/2004;
(2) "consolidation loan"
				means a loan made under
				AS
				14.43.122;
(3) "date of origination" means the day
				eligible loans are paid in full through the issuance of the consolidation
				loan;
(4) "eligible loan" means an
				education loan made under
				AS
				14.43.091-14.43.160,
				AS
				14.43.170-14.43.175, or
				AS
				14.44.040 and approved for and paid in full
				through issuance of a consolidation loan;
(5) repealed 2/27/2010;
(6) "origination" means the creation of a
				financial obligation by the commission in response to an application from a
				consumer.
Authority:
AS
					 14.42.030
AS
					 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 5 - Teacher Education Loan Program › 20 AAC 15.200 - Purpose of teacher education loan program

Current through May 31, 2024
The teacher education loan program provides low-cost education
				  loans to graduates of public or private high schools in the state who are
				  enrolled in bachelor's degree programs in elementary or secondary teacher
				  education or undergraduate certificate programs intended to lead to elementary or
				  secondary teacher certification.
As of Register 160 (January 2002), the regulations attorney
					 made a technical revision under
					 AS
					 44.62.125(b)(6), and in
					 accordance with ch. 85, sec. 45, SLA 2001, to change "scholarship loan" to
					 "education loan" in
					 20 AAC 15.200.
Authority:
AS
					 14.43.600
AS 14.43.610
AS
					 14.43.630
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 5 - Teacher Education Loan Program › 20 AAC 15.205 - Administration

Current through May 31, 2024
(a) The commission will distribute award
				nomination forms in January of each year to local school boards.
(b) Repealed 4/20/2000.
(c) By May 1 of each year, the commission will
				send an appropriate number of teacher education loan application forms to the
				school boards for distribution to selected students.
(d) In May of each year, the commission will
				send application forms to recipients of previous teacher education loans who are
				expected to continue in an eligible program of study.
(e) Repealed 3/22/97.
As of Register 160 (January 2002), the regulations attorney
					 made a technical revision under
					 AS
					 44.62.125(b)(6), and in
					 accordance with ch. 85, sec. 45, SLA 2001, to change "scholarship loan" to
					 "education loan" in
					 20 AAC 15.205.
Authority:
AS
					 14.43.630
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 5 - Teacher Education Loan Program › 20 AAC 15.210 - Filing of application

Current through May 31, 2024
The commission staff shall process applications and distribute
				  available loan proceeds based on the order in which the applications are
				  received. Each year, a person requesting a loan for that school year must file an
				  application on a form obtained from the commission.
Authority:
AS
					 14.43.630
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 5 - Teacher Education Loan Program › 20 AAC 15.215 - Applicant eligibility

Current through May 31, 2024
In addition to the eligibility requirements set out in
				  AS
				  14.43.650, an applicant must be enrolled, or
				  must intend to enroll, in a four-year bachelor's degree program in elementary or
				  secondary teacher education or undergraduate degree or certificate program
				  intended to lead to elementary or secondary teacher
				  certification.
Authority:
AS
					 14.43.630
AS
					 14.43.650
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 5 - Teacher Education Loan Program › 20 AAC 15.220 - Priority ranking of applicants

Current through May 31, 2024
If available money is not sufficient to fund all eligible
				  applicants, loans will be awarded in accordance with the following
				  priority:
(1) applicants who received a
				teacher education loan the preceding year;
(2) one new applicant, ranked by high school
				grade-point average, from each school district;
(3) remaining new applicants ranked by highest
				number of years enrolled in a teacher education program, with students who are in
				a teacher certification program ranked first.
As of Register 160 (January 2002), the regulations attorney
					 made a technical revision under
					 AS
					 44.62.125(b)(6), and in
					 accordance with ch. 85, sec. 45, SLA 2001, to change "scholarship loan" to
					 "education loan" in
					 20 AAC 15.220.
Authority:
AS
					 14.43.630
AS
					 14.43.650
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 5 - Teacher Education Loan Program › 20 AAC 15.230 - Conditions of loans

Current through May 31, 2024
A loan may be used to attend only an institution that meets the
				  requirements of
(1)20 AAC 15.922; and
(2)AS
				14.20.020 and
				4 AAC 12.010 -
				4 AAC 12.900 for teacher certification degree
				programs.
Authority:
AS
					 14.43.600
AS 14.43.610
AS 14.43.630
AS 14.43.640
AS
					 14.43.650
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 5 - Teacher Education Loan Program › 20 AAC 15.250 - Forgiveness benefits

Current through May 31, 2024
(a) To qualify to have a portion of a loan be
				paid by the state as a forgiveness benefit under
				AS
				14.43.640(b), a borrower must
(1) provide a copy of the borrower's degree,
				diploma, or certificate of completion for the course of study for which the loan
				was awarded;
(2) show proof of
				employment as a teacher in an elementary or secondary school in rural Alaska, as
				defined in AS 14.43.700, or in an urban area of
				Alaska under the requirements of the exception set out in
				AS
				14.43.640(f);
(3) provide certification on a form provided by
				the commission that the borrower has satisfied the requirements of
				AS
				14.43.640(b) and this
				section;
(4) be current in repayment
				in compliance with
				AS
				14.43.120 and 20 AAC 15 on the loan for which a
				forgiveness benefit is claimed; and
(5) not have defaulted on the loan.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 5 - Teacher Education Loan Program › 20 AAC 15.295 - Definitions

Current through May 31, 2024
(a) In
				AS
				14.43.600-14.43.700 and
				20 AAC 15.200 -
				20 AAC 15.295, "total loan" means the total amount of all
				teacher education loans received by a borrower.
(b) For the purposes of
				20 AAC 15.200 -
				20 AAC 15.295,
(1)
				"employment as a teacher" means to enter into and complete the terms of a
				contract to serve as a certificated elementary or secondary school
				teacher;
(2) "hardship" means being
				unable to meet the obligation to repay a teacher education loan over the term or
				in the amount determined by loan personnel.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 7 - Family Education Loan Program › 20 AAC 15.510 - Purpose of family education loan program

Current through May 31, 2024
The family education loan program provides low-cost education
				  loans to Alaskan families to assist in paying the costs of postsecondary
				  education for family members.
Authority:
AS
					 14.43.710
AS 14.43.720
AS
					 14.43.730
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 7 - Family Education Loan Program › 20 AAC 15.520 - Filing of application

Current through May 31, 2024
The commission staff shall process applications and distribute
				  available loan proceeds based on the order in which the applications are
				  received, except that in a year that financing is insufficient and not available
				  to fully finance loan demand, priority will be given to residents of this state
				  attending institutions in this state. Each year, a person requesting a loan for
				  that school year must file an application on a form obtained from the
				  commission.
Authority:
AS
					 14.42.030
AS
					 14.43.740
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 7 - Family Education Loan Program › 20 AAC 15.537 - Annual and aggregate loan limits on borrower

Current through May 31, 2024
(a) Borrowing under
				the Alaska family education loan program is subject to the annual and aggregate
				limits under
				AS
				14.43.173 and
				20 AAC 15.935(f).
(b) A borrower who receives loans under the
				Alaska family education loan program on behalf of more than one student and has
				borrowed up to the aggregate limit under (a) of this section may receive
				additional loans if the current total principal loan balance owed by the
				borrower, including the new loan amount, does not exceed the aggregate
				limit.
Authority:
AS
					 14.42.030
AS 14.43.173
AS 14.43.730
AS
					 14.43.740
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 7 - Family Education Loan Program › 20 AAC 15.540 - Duties of student recipient

Current through May 31, 2024
(a) The student
				recipient must sign a statement on the promissory note that the student recipient
				will comply with the requirements of this section. Commission staff may not make
				loan disbursements to a student recipient who has not complied with a requirement
				of this section.
(b) Within 30 days
				after the change, a student recipient shall report in writing to the commission
				any change that affects the conditions of a loan, including any change of the
				student recipient's name, address, or state residency status, or the student's
				change of institution, change in dates of attendance, change in attendance from
				full-time status, change in enrollment status, or withdrawal or dismissal from
				the course of study for which the loan was awarded.
(c) A student recipient must maintain full-time
				enrollment as a student in good standing as described in
				20 AAC 15.945 and must comply with the conditions placed on
				a student under that section.
Authority:
AS
					 14.43.730
AS 14.43.740
AS
					 14.43.750
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 7 - Family Education Loan Program › 20 AAC 15.550 - Repayment of loans

Current through May 31, 2024
The repayment period begins on the date of the last
				  disbursement made on the loan. The first payment is due within 60 days after the
				  date the loan is fully disbursed.
Authority:
AS
					 14.42.030
AS 14.43.730
AS
					 14.43.740
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 7 - Family Education Loan Program › 20 AAC 15.590 - Definitions

Current through May 31, 2024
In
				  20 AAC 15.510 -
				  20 AAC 15.590,
(1)
				"family member" means a spouse, child, step-child, foster child, or grandchild of
				the borrower;
(2) repealed
				3/15/98;
(3) "student recipient"
				means the family member for whom the loan is made.
Authority:
AS
					 14.43.125
AS 14.43.740
AS
					 14.43.750
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 8 - A.W. "Winn" Brindle Memorial Scholarship Loan Program › 20 AAC 15.610 - Purpose of A.W. "Winn" Brindle memorial education loan program

Current through May 31, 2024
The A.W. "Winn" Brindle memorial education loan program
				  provides low cost education loans to Alaskans enrolled as full-time students in
				  undergraduate, graduate or career vocational-technical degree programs at
				  accredited schools in fisheries, fishery science, fishery management, seafood
				  processing, food technology, or other fields determined by the commission, on a
				  case-by-case basis, to be related.
As of Register 160 (January 2002), the regulations attorney
					 made a technical revision under
					 AS
					 44.62.125(b)(6), and in
					 accordance with ch. 85, sec. 45, SLA 2001, to change "scholarship loan" to
					 "education loan" in
					 20 AAC 15.610.
Authority:
AS
					 14.43.300
AS
					 14.43.320
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 8 - A.W. "Winn" Brindle Memorial Scholarship Loan Program › 20 AAC 15.620 - Applicant priority

Current through May 31, 2024
(a) In selecting from among the eligible
				applicants those who will be awarded a memorial education loan, priority will be
				given to those who
(1) received a loan under
				this program during the previous academic year and are ranked by highest to
				lowest grade level; or
(2) are
				nominated by a private donor contributing to the memorial education loan
				account.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 8 - A.W. "Winn" Brindle Memorial Scholarship Loan Program › 20 AAC 15.625 - Application procedures

Current through May 31, 2024
(a) An Alaska resident attending, or planning
				to attend, an eligible degree program at either an in-state or out-of-state
				postsecondary institution who wishes to apply for an A.W. "Winn" Brindle memorial
				education loan must complete and submit an application on a form obtained from
				the commission.
(b) The commission
				will
(1) review, for eligibility, all completed
				applications that were received by the application deadline; and
(2) issue education loan awards on the basis of
				ranking and availability of money.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 8 - A.W. "Winn" Brindle Memorial Scholarship Loan Program › 20 AAC 15.675 - Forgiveness benefits

Current through May 31, 2024
(a) To qualify for a forgiveness benefit under
				AS
				14.43.305(j), the borrower
				must
(1) provide documentation that the borrower
				has satisfied the requirements of
				AS
				14.43.305(j) and this section;
				and
(2) be current in repayment in
				compliance with
				AS
				14.43.120 and 20 AAC 15 on the loan for which a
				forgiveness benefit is claimed.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.700 - Purpose of the Alaska supplemental education loan program

Current through May 31, 2024
The Alaska supplemental education loan program (ASELP) provides
				  low-cost education loans to residents of this state attending eligible
				  institutions, and to students attending eligible institutions in this state. This
				  loan is available to an otherwise eligible borrower to pay allowable costs of
				  attendance that
(1) exceed the costs
				allowed under a federal direct subsidized or unsubsidized loan;
(2) cannot be met through the federal direct
				subsidized or unsubsidized loan program; or
(3) can be met with lower cost through use of
				the supplemental loan.
Authority:
AS
					 14.42.030
AS
					 14.43.170
AS
					 14.43.172
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.705 - Applicant eligibility

Current through May 31, 2024
(a) A borrower of an
				Alaska supplemental education loan (ASEL) must meet the eligibility requirements
				of
				AS 14.43.172 and
				14.43.173
				and
(1) must be enrolled and admitted into an
				eligible program of study on at least a half-time basis;
(2) must maintain satisfactory academic
				progress as determined by the school's policy;
(3) may not be in default on any federal or
				state education loan;
(4) if the
				individual is eligible to participate in the AlaskAdvantage loan program based
				solely on the individual's status as a resident of this state, during periods of
				absence from this state under
				AS
				14.43.162(c), must have, and
				must demonstrate behavior consistent with, a continuing intent to return to and
				remain permanently in this state; and
(5) be a United States citizen or permanent
				resident alien admitted to the United States as a lawful permanent resident
				according to
				8
				U.S.C. 1101-
				1537
				(United States Immigration and Nationality Act).
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.710 - Institutional eligibility

Current through May 31, 2024
To participate in the ASELP, an institution must apply for and
				  be granted approval under
				  20 AAC 15.922.
As of Register 191 (October 2009), the regulations attorney
					 made a technical revision under
					 AS
					 44.62.125(b)(6), to
					 20 AAC 15.710.
Authority:
AS
					 14.42.030
AS 14.43.172
AS 14.43.173
AS
					 14.48.050
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.715 - Application procedure requirements

Current through May 31, 2024
(a) A student
				requesting an ASEL must complete and submit the FAFSA to the United States
				Department of Education in the manner set out in the FAFSA, if the student's
				institution of attendance requires the FAFSA.
(b) Repealed 11/16/2012.
(c) The commission staff shall process
				applications and distribute available loan proceeds based on the order in which
				the applications are received, except that in a year that financing is
				insufficient and not available to fully finance loan demand, priority will be
				given to residents of this state attending institutions in this state. Each year,
				a person requesting a loan for that school year must file a new or renewal
				application.
(d) If the student's
				school has not notified the student of the availability of the ASEL, has not
				provided the student with a loan application and promissory note for the
				student's signature, or has not collected any additional information required,
				the commission staff shall provide the applicable notification or items, and
				shall collect any additional information required.
(e) The student must complete a loan
				application and promissory note and submit them to the commission.
(f) If the school the student is attending
				requires its financial aid staff to certify the loan award before the award is
				made final, commission staff may not disburse loan money to the school until the
				award is certified.
(g) An applicant,
				and an endorser if required under
				AS 14.43.172, must sign
				a promissory note for the loan award, unless a previously completed master
				promissory note is in effect. The applicant's parent or legal guardian, who meets
				the eligibility requirements of
				AS
				14.43.172(c), also must sign
				the promissory note if the applicant is under 17 years of age. An endorser's
				signature on a promissory note may be required to be notarized. Liability for the
				loan is limited to the amount of loan money disbursed on behalf of the student
				plus applicable interest, loan origination fees, and collection costs.
(h) An application is timely filed only if it
				is submitted on or before the applicable deadline for the academic period for
				which the loan is requested and contains all information required to make a
				determination of the applicant's eligibility and the amount of the loan
				award.
(i) Commission staff may
				require an applicant to furnish further information and documents to verify
				statements on the application.
Authority:
AS
					 14.42.030
AS
					 14.43.171
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.725 - Relationship of borrower and endorser

Current through May 31, 2024
(a) For purposes of
				20 AAC 15.700 -
				20 AAC 15.795, and except as provided in (b) of this
				section, the term "borrower" does not include an endorser unless specifically
				indicated.
(b) For purposes of
				AS
				14.43.145, the term "borrower" includes an
				endorser, if any.
Authority:
AS
					 14.42.030
AS 14.43.168
AS
					 14.43.171
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.730 - Loan fees and accrual of interest

Current through May 31, 2024
(a) If a loan or
				repayment obligation becomes delinquent or in default, the borrower or endorser,
				if any, shall pay the fees and costs described in
				20 AAC 15.975.
(b) Repealed 12/31/2005.
(c) Interest on a loan accrues from the time
				the loan is disbursed. Unpaid accrued interest will be added to the principal
				balance of a loan
(1) when a loan enters
				repayment under
				AS
				14.43.175;
(2) at the start of a period of deferment, if
				unpaid interest has accrued at the time the deferment is processed;
(3) at the expiration of a period of
				deferment;
(4) at the start of a
				period of forbearance, if unpaid interest has accrued on the loan at the time the
				forbearance is processed;
(5) at the
				expiration of a period of forbearance;
(6) when a loan is transferred to a collection
				agency due to the borrower's default; and
(7) any time that the borrower and the
				commission enter into an alternative repayment agreement.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.735 - Conditions and limitations on loans

Current through May 31, 2024
(a) A loan award will
				be based upon computation of allowable costs of attendance, and may not exceed a
				borrower's estimated cost of attendance less other forms of financial aid awarded
				to the borrower to pay for these costs for the period of enrollment for which the
				loan is intended. The authorized loan award for a student enrolled for less than
				a full academic year will be determined on a pro rata basis so that an otherwise
				eligible student attending
(1) one-third of the
				academic year is eligible for one-third of the annual loan maximum;
(2) one-half of the academic year is eligible
				for one-half of the annual loan maximum; or
(3) two-thirds of the academic year is eligible
				for two-thirds of the annual loan maximum.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.740 - Loan certification, disbursement, and refund

Current through May 31, 2024
(a) Administration,
				certification, and refund of ASEL loans, and disbursement of ASEL loan money will
				be conducted in accordance with the applicable provisions of
				20 AAC 15.950 and
				20 AAC 15.955.
(b) Repealed 12/29/2010.
(c) Repealed 12/29/2010.
(d) The institution is responsible for ensuring
				that appropriate controls are established to prevent disbursement of loan
				proceeds to an individual other than the named student.
Authority:
AS
					 14.42.030
AS 14.43.172
AS
					 14.43.173
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.745 - Loan servicing and repayment

Current through May 31, 2024
(a) Repealed
				12/29/2010.
(b) The repayment period
				begins not later than the day after completion of six months from the last date
				on which the borrower was enrolled on at least a half-time basis in an eligible
				program, with a first payment due within 45 days after the first day of the
				repayment period.
(c) The commission
				may establish a forbearance, a deferment, or an alternative repayment schedule
				with a borrower or endorser to assist a borrower or endorser in repaying the
				loan.
(d) The regular repayment
				period is ten years in duration with a repayment schedule that provides for equal
				or graduated payments.
(e) The
				commission may establish a repayment schedule that provides for the payment
				amounts to change as a result of the annual change in variable interest rate. If
				the effect of the interest rate change on the repayment schedule would result in
				a loan not being repaid in the maximum repayment term, the commission may provide
				the borrower with a forbearance extending the repayment period.
(f) A borrower's obligation to commence
				repayment under
				AS
				14.43.175 is also the obligation of any
				endorser, and
(1) begins when the borrower's
				obligation begins;
(2) is deferred
				while the borrower's obligation is deferred;
(3) continues even if the borrower's obligation
				to repay the loan is discharged or canceled before the loan is paid in full, and
				even if the discharge or cancellation occurs due to the death or disability of
				the borrower; and
(4) continues even
				if the borrower's obligation to repay the loan is determined to have been
				discharged in bankruptcy unless the endorser's obligation to repay the loan has
				also been determined to have been discharged in the endorser's
				bankruptcy.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.750 - Loan deferment

Current through May 31, 2024
(a) Except where otherwise specified in
				AS
				14.43.170-14.43.175 and
				20 AAC 15.700 -
				20 AAC 15.795, a borrower may defer payments after the
				beginning of the repayment period in accordance with the conditions set out in
				20 AAC 15.965.
(b) Repealed 12/31/2005.
(c) Repealed 12/31/2005.
(d) A deferment that is subject to a maximum
				term limit will be considered to have been exhausted when used for the maximum
				period of time for one or more loans awarded to a borrower.
(e) A borrower who has received a deferment
				shall immediately notify the commission when the condition under which the
				deferment was granted no longer exists.
(f) An endorser may not obtain a
				deferment.
Authority:
AS
					 14.42.030
AS 14.43.171
AS
					 14.43.175
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.755 - Loan forbearance

Current through May 31, 2024
(a) A request for forbearance of an ASEL will
				be considered under
				20 AAC 15.966.
(b) Repealed 12/31/2005.
(c) Repealed 12/31/2005.
(d) Repealed 12/29/2010.
(e) Repealed 12/29/2010.
(f) Repealed 12/29/2010.
As of Register 172 (January 2005), and acting under
					 AS
					 44.62.125(b)(6) and sec. 34,
					 ch. 63, SLA 2004, the regulations attorney made technical changes to reflect the
					 name change of the Alaska advantage loan program to the AlaskAdvantage loan
					 program made by secs. 10, 13, and 28, ch. 63, SLA
					 2004.
Authority:
AS
					 14.42.030
AS 14.43.171
AS
					 14.43.175
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.760 - Medical cancellations

Current through May 31, 2024
A request for medical cancellation of an ASEL will be
				  considered under
				  20 AAC 15.920.
Authority:
AS
					 14.42.030
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.765 - Delinquency and default

Current through May 31, 2024
Delinquency and default of an ASEL will be determined under
				  20 AAC 15.970.
Authority:
AS
					 14.42.030
AS 14.42.171
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.770 - Complaints and appeals

Current through May 31, 2024
Complaints and appeals regarding administration of the ASELP
				  will be considered under
				  20 AAC 15.915.
Authority:
AS
					 14.42.030
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.775 - Loan audit and institutional sanctions

Current through May 31, 2024
An institution that participates in the ASELP is subject to
				  periodic audits for purposes of determining verification of student loan
				  eligibility, management of student loan documents, compliance with the program
				  participation agreement, if any, and compliance with state statutes and
				  regulations. Those audits will be performed under
				  20 AAC 15.924.
Authority:
AS
					 14.42.030
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.780 - Default rates of students who attended an institution

Current through May 31, 2024
The commission staff shall calculate an institutional rate of
				  default under
				  AS
				  14.43.120(d)(4) and
				  20 AAC 15.925.
Authority:
AS
					 14.42.030
AS
					 14.43.171
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.785 - Default rate reduction requirements for institutions

Current through May 31, 2024
(a)
				Except for an institution that is authorized to participate in federal student
				aid programs under
				20 U.S.C.
				1070-
				1099d
				(Title IV of the Higher Education Act of 1965), an institution with a default
				rate calculated under
				20 AAC
				15.925 in excess of 20 percent shall develop and submit
				a default reduction plan acceptable to the commission not later than 45 days
				after the date of the default rate determination.
(b) An institution that fails to comply with
				(a) of this section is ineligible to receive proceeds of new student loans until
				the required default reduction plan is submitted and determined by the commission
				to be reasonably expected to effect the necessary default reduction.
Authority:
AS
					 14.42.030
AS
					 14.43.171
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.790 - Involuntary collection on the supplemental education loan

Current through May 31, 2024
In accordance with
				  AS
				  14.43.145-14.43.155, the commission may
				  administratively collect on a defaulted ASEL. The commission will perform those
				  collection activities in accordance with applicable state laws and with
				  20 AAC 15.970 and
				  20 AAC 15.972.
Authority:
AS
					 14.42.030
AS
					 14.43.171
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 9 - Supplemental Education Loan Program › 20 AAC 15.795 - Definitions

Current through May 31, 2024
In
				  20 AAC 15.700 -
				  20 AAC 15.795, unless the context requires
				  otherwise,
(1) "ASEL" means a loan
				awarded under
				AS
				14.43.170-14.43.175 (Alaska Supplemental
				Education Loan Program);
(2) "ASELP"
				means the Alaska supplemental education loan program under
				AS
				14.43.170-14.43.175;
(3) "eligible program" means a program of study
(A) at an institution meeting the requirements
				of 20 AAC 15.922; and
(B) that is designed to culminate in an award
				of a degree or vocational certificate;
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 10 - Alaska Student Loan Corporation › 20 AAC 15.810

Current through May 31, 2024
As of July 31, 2016, the substance of former
					 20 AAC 15.810,
					 20 AAC 15.815,
					 20 AAC 15.820,
					 20 AAC 15.825,
					 20 AAC 15.830,
					 20 AAC 15.835,
					 20 AAC 15.840,
					 20 AAC 15.845,
					 20 AAC 15.850,
					 20 AAC 15.855, and
					 20 AAC 15.890 (Alaska Student Loan Corporation) is located
					 in 20 AAC 14.010 -
					 20 AAC 14.055 and
					 20 AAC 14.900.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 10 - Alaska Student Loan Corporation › 20 AAC 15.815

Current through May 31, 2024
As of July 31, 2016, the substance of former
					 20 AAC 15.810,
					 20 AAC 15.815,
					 20 AAC 15.820,
					 20 AAC 15.825,
					 20 AAC 15.830,
					 20 AAC 15.835,
					 20 AAC 15.840,
					 20 AAC 15.845,
					 20 AAC 15.850,
					 20 AAC 15.855, and
					 20 AAC 15.890 (Alaska Student Loan Corporation) is located
					 in 20 AAC 14.010 -
					 20 AAC 14.055 and
					 20 AAC 14.900.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 10 - Alaska Student Loan Corporation › 20 AAC 15.820

Current through May 31, 2024
As of July 31, 2016, the substance of former
					 20 AAC 15.810,
					 20 AAC 15.815,
					 20 AAC 15.820,
					 20 AAC 15.825,
					 20 AAC 15.830,
					 20 AAC 15.835,
					 20 AAC 15.840,
					 20 AAC 15.845,
					 20 AAC 15.850,
					 20 AAC 15.855, and
					 20 AAC 15.890 (Alaska Student Loan Corporation) is located
					 in 20 AAC 14.010 -
					 20 AAC 14.055 and
					 20 AAC 14.900.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 10 - Alaska Student Loan Corporation › 20 AAC 15.825

Current through May 31, 2024
As of July 31, 2016, the substance of former
					 20 AAC 15.810,
					 20 AAC 15.815,
					 20 AAC 15.820,
					 20 AAC 15.825,
					 20 AAC 15.830,
					 20 AAC 15.835,
					 20 AAC 15.840,
					 20 AAC 15.845,
					 20 AAC 15.850,
					 20 AAC 15.855, and
					 20 AAC 15.890 (Alaska Student Loan Corporation) is located
					 in 20 AAC 14.010 -
					 20 AAC 14.055 and
					 20 AAC 14.900.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 10 - Alaska Student Loan Corporation › 20 AAC 15.830

Current through May 31, 2024
As of July 31, 2016, the substance of former
					 20 AAC 15.810,
					 20 AAC 15.815,
					 20 AAC 15.820,
					 20 AAC 15.825,
					 20 AAC 15.830,
					 20 AAC 15.835,
					 20 AAC 15.840,
					 20 AAC 15.845,
					 20 AAC 15.850,
					 20 AAC 15.855, and
					 20 AAC 15.890 (Alaska Student Loan Corporation) is located
					 in 20 AAC 14.010 -
					 20 AAC 14.055 and
					 20 AAC 14.900.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 10 - Alaska Student Loan Corporation › 20 AAC 15.835

Current through May 31, 2024
As of July 31, 2016, the substance of former
					 20 AAC 15.810,
					 20 AAC 15.815,
					 20 AAC 15.820,
					 20 AAC 15.825,
					 20 AAC 15.830,
					 20 AAC 15.835,
					 20 AAC 15.840,
					 20 AAC 15.845,
					 20 AAC 15.850,
					 20 AAC 15.855, and
					 20 AAC 15.890 (Alaska Student Loan Corporation) is located
					 in 20 AAC 14.010 -
					 20 AAC 14.055 and
					 20 AAC 14.900.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 10 - Alaska Student Loan Corporation › 20 AAC 15.840

Current through May 31, 2024
As of July 31, 2016, the substance of former
					 20 AAC 15.810,
					 20 AAC 15.815,
					 20 AAC 15.820,
					 20 AAC 15.825,
					 20 AAC 15.830,
					 20 AAC 15.835,
					 20 AAC 15.840,
					 20 AAC 15.845,
					 20 AAC 15.850,
					 20 AAC 15.855, and
					 20 AAC 15.890 (Alaska Student Loan Corporation) is located
					 in 20 AAC 14.010 -
					 20 AAC 14.055 and
					 20 AAC 14.900.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 10 - Alaska Student Loan Corporation › 20 AAC 15.845

Current through May 31, 2024
As of July 31, 2016, the substance of former
					 20 AAC 15.810,
					 20 AAC 15.815,
					 20 AAC 15.820,
					 20 AAC 15.825,
					 20 AAC 15.830,
					 20 AAC 15.835,
					 20 AAC 15.840,
					 20 AAC 15.845,
					 20 AAC 15.850,
					 20 AAC 15.855, and
					 20 AAC 15.890 (Alaska Student Loan Corporation) is located
					 in 20 AAC 14.010 -
					 20 AAC 14.055 and
					 20 AAC 14.900.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 10 - Alaska Student Loan Corporation › 20 AAC 15.850

Current through May 31, 2024
As of July 31, 2016, the substance of former
					 20 AAC 15.810,
					 20 AAC 15.815,
					 20 AAC 15.820,
					 20 AAC 15.825,
					 20 AAC 15.830,
					 20 AAC 15.835,
					 20 AAC 15.840,
					 20 AAC 15.845,
					 20 AAC 15.850,
					 20 AAC 15.855, and
					 20 AAC 15.890 (Alaska Student Loan Corporation) is located
					 in 20 AAC 14.010 -
					 20 AAC 14.055 and
					 20 AAC 14.900.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 10 - Alaska Student Loan Corporation › 20 AAC 15.855

Current through May 31, 2024
As of July 31, 2016, the substance of former
					 20 AAC 15.810,
					 20 AAC 15.815,
					 20 AAC 15.820,
					 20 AAC 15.825,
					 20 AAC 15.830,
					 20 AAC 15.835,
					 20 AAC 15.840,
					 20 AAC 15.845,
					 20 AAC 15.850,
					 20 AAC 15.855, and
					 20 AAC 15.890 (Alaska Student Loan Corporation) is located
					 in 20 AAC 14.010 -
					 20 AAC 14.055 and
					 20 AAC 14.900.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 10 - Alaska Student Loan Corporation › 20 AAC 15.890

Current through May 31, 2024
As of July 31, 2016, the substance of former
					 20 AAC 15.810,
					 20 AAC 15.815,
					 20 AAC 15.820,
					 20 AAC 15.825,
					 20 AAC 15.830,
					 20 AAC 15.835,
					 20 AAC 15.840,
					 20 AAC 15.845,
					 20 AAC 15.850,
					 20 AAC 15.855, and
					 20 AAC 15.890 (Alaska Student Loan Corporation) is located
					 in 20 AAC 14.010 -
					 20 AAC 14.055 and
					 20 AAC 14.900.