reglab/statecodes huggingface dataset:
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 10 - Professional Teaching Practices Commission › Article 4 - General Provisions › 20 AAC 10.900 - Definitions

Current through May 31, 2024
In this chapter,
(1)
				"sexual conduct" includes
(A) explicit sexual
				jokes and stories;
(B) flirtatous or
				sexually related cooments;
(C) sexual
				kidding or teasing;
(D) sexual
				innuendos or comments with double entendre;
(E) inappropriate physical touching;
(F) soliciting, encouraging, participating in,
				or initiating inapropriate written, verbal, or electronic communication of a
				sexual nature with a student;
(G)
				physical or a romantic relationship with a student, whether consensual or
				nonconsensual;
(H) discussion of the
				educator's sexual feelings or activities;
(I) discussion, outside of a professional
				teaching or counseling context, of a students sexual feelings or activities;
				and
(J) "sexual penetration" and
				"sexual contact" as those terms are defined in
				11.81.900;
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 1 - Bond Issues, Selection of Underwriters, Interest Rates, and Late Fees › 20 AAC 14.010 - Delegation of selection of underwriters

Current through May 31, 2024
The corporation delegates the preparation for and the selection
				  of underwriters for a bond issue to the executive officer of the corporation as
				  specified in 20 AAC 14.010 -
				  20 AAC 14.040. The decision of the executive officer is the
				  final agency decision on the selection of underwriters.
Before July 31, 2016, the substance of 20 AAC 14.010 was
					 contained in former
					 20 AAC 15.815. The history note for 20 AAC 14.010 does not
					 reflect the history of the section under its former
					 number.
Authority:
AS
					 14.42.150
AS 14.42.200
AS 14.42.265
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 1 - Bond Issues, Selection of Underwriters, Interest Rates, and Late Fees › 20 AAC 14.015 - Selection of underwriters by negotiated sale

Current through May 31, 2024
For a bond issue using a negotiated sale method, the executive
				  officer shall select the underwriter and, if more than one underwriter is chosen,
				  members of the underwriting or selling group. The executive officer shall compile
				  a qualified underwriters list (QUL) in accordance with the selection process set
				  out in 20 AAC 14.020 -
				  20 AAC 14.040. The underwriter and members of the
				  underwriting or selling group must be selected from the QUL. The executive
				  officer shall update the QUL when a vacancy is anticipated or as is determined
				  necessary by the executive officer or the board.
Before July 31, 2016, the substance of 20 AAC 14.015 was
					 contained in former
					 20 AAC 15.820. The history note for 20 AAC 14.015 does not
					 reflect the history of the section under its former
					 number.
Authority:
AS
					 14.42.150
AS 14.42.200
AS 14.42.265
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 1 - Bond Issues, Selection of Underwriters, Interest Rates, and Late Fees › 20 AAC 14.020 - Qualified underwriters list

Current through May 31, 2024
The provisions of 20 AAC 14.020 -
				  20 AAC 14.025 establish policies, authority, and guidelines
				  relating to the selection of investment banking firms for inclusion on the
				  QUL.
Before July 31, 2016, the substance of 20 AAC 14.020 was
					 contained in former
					 20 AAC 15.825. The history note for 20 AAC 14.020 does not
					 reflect the history of the section under its former
					 number.
Authority:
AS
					 14.42.150
AS 14.42.200
AS 14.42.265
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 1 - Bond Issues, Selection of Underwriters, Interest Rates, and Late Fees › 20 AAC 14.025 - Requests for statements of qualifications

Current through May 31, 2024
(a) The executive
				officer shall select investment banking firms for inclusion on the QUL on the
				basis of a request for statements of qualifications as described in this section.
				A request for statements of qualifications must contain the date, time, and place
				for delivering responses; a specific description of the services to be provided;
				the minimum qualifications required to be included on the QUL; other information
				required in order to evaluate the qualifications of respondents in accordance
				with 20 AAC 14.020 -
				20 AAC 14.040; and evaluation criteria specified under (i)
				of this section.
(b) The executive
				officer shall publish notice of a request for statements of qualifications by at
				least one of the following methods:
(1) regular
				or electronic mailings to those investment banking firms currently on the QUL as
				maintained by the corporation;
(2)
				publication in a trade journal, such as The Bond Buyer, and the Alaska Online
				Public Notice System
				AS
				44.62.175 at least 21 days before delivery
				deadline of a response to the request for statements of qualifications;
(3) publication through other media determined
				by the executive officer to provide comparable notification to those methods
				listed in (1) or (2) of this subsection.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 1 - Bond Issues, Selection of Underwriters, Interest Rates, and Late Fees › 20 AAC 14.030 - Method of sale

Current through May 31, 2024
Before selecting an underwriter or selling group for a bond
				  issuance, the executive officer shall consult with the corporation's financial
				  advisor and shall review the transaction to make a recommendation to the board on
				  the method of sale for the bond issue; either by negotiated sale or competitive
				  sale. The board will make the final agency decision on the method of sale, after
				  considering the recommendation of the executive officer. If the board determines
				  that the bond issue is to be made by negotiated sale, the executive officer shall
				  select one or more investment banking firms from the QUL in accordance with the
				  underwriting selection process described in
				  20 AAC 14.035.
Before July 31, 2016, the substance of 20 AAC 14.030 was
					 contained in former
					 20 AAC 15.835. The history note for 20 AAC 14.030 does not
					 reflect the history of the section under its former
					 number.
Authority:
AS
					 14.42.150
AS 14.42.200
AS 14.42.265
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 1 - Bond Issues, Selection of Underwriters, Interest Rates, and Late Fees › 20 AAC 14.040 - Bond purchase agreement

Current through May 31, 2024
The bond purchase agreement entered into between the
				  corporation and the lead underwriter selected under this section must contain
(1) a statement that the law of this
				state pertains to the agreement;
(2)
				a statement that the corporation will not indemnify the underwriters; and
(3) a statement that the compensation
				to be paid by the corporation shall be no greater than the compensation stated in
				the lead underwriter's proposal to the request for financing proposal for the
				particular bond issuance.
Before July 31, 2016, the substance of 20 AAC 14.040 was
					 contained in former
					 20 AAC 15.845. The history note for 20 AAC 14.040 does not
					 reflect the history of the section under its former
					 number.
Authority:
AS
					 14.42.150
AS 14.42.200
AS 14.42.265
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 1 - Bond Issues, Selection of Underwriters, Interest Rates, and Late Fees › 20 AAC 14.045 - Competitive sale transaction

Current through May 31, 2024
If a determination is made by the board that the bond issue
				  should be done using a competitive sale method, the executive officer shall
				  consult the corporation's bond counsel and financial advisor, structure the bond
				  issue, and prepare the financing documents for consideration by the board. The
				  corporation will authorize the bond issue in advance of the distribution of the
				  official notice of sale to initiate the bidding process on the bonds. Bonds of
				  the corporation sold in accordance with a competitive sale method will not be
				  restricted to those firms included on the QUL.
Before July 31, 2016, the substance of 20 AAC 14.045 was
					 contained in former
					 20 AAC 15.850. The history note for 20 AAC 14.045 does not
					 reflect the history of the section under its former
					 number.
Authority:
AS
					 14.42.150
AS 14.42.200
AS 14.42.265
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 1 - Bond Issues, Selection of Underwriters, Interest Rates, and Late Fees › 20 AAC 14.050 - Loan interest rates, loan credits, and loan fees

Current through May 31, 2024
(a) If the corporation sets loan interest rates
				as variable rates the interest rates apply for the next 12-month period beginning
				July 1 of that calendar year and ending June 30 of the subsequent calendar year.
(b) For loans originated on or
				before June 30, 2014, the interest rates set under (a) of this section will be
				based on the bond equivalent rate of 91-day United States Treasury bills
				auctioned at the final auction held before May 1 of the loan year plus up to 2.8
				percent.
(c) In setting interest
				rates in accordance with (b) of this section, the corporation will take into
				consideration the commission's and corporation's costs, during the preceding
				fiscal year, of administering loans of the state education loan programs. Amounts
				that the corporation may determine to be costs include payments for salaries,
				service agreements, supplies, direct and indirect costs of operation, and other
				costs considered appropriate by the corporation. The corporation will not include
				as costs amounts recovered by a loan origination fee or through payments received
				from the United States Department of Education as a result of claims paid on a
				loan guaranty.
(d) The corporation may
				approve an annual credit for those loans that have a lower cost of administration
				due to
(1) the borrower's election of a
				cost-effective repayment method made available by the commission;
(2) a good faith payment history, demonstrated
				by the borrower having made all loan payments when due and in full for the
				initial 48 months of repayment;
(3)
				the borrower's attendance at an institution in the state or physically residing
				within state geographic boundaries and legal jurisdiction; or
(4) for those loans that are guaranteed by the
				United States government, subsidies paid to the corporation for administering the
				loans.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 1 - Bond Issues, Selection of Underwriters, Interest Rates, and Late Fees › 20 AAC 14.055 - Late fees

Current through May 31, 2024
If an installment on a loan is 30 days or more past due on the
				  loan's payment schedule, the corporation may require the loan borrower to pay a
				  late fee of up to $15 for the installment. If a deferment of payment on a loan is
				  approved under
				  20 AAC 15.965, the corporation may waive the late fee. This
				  section applies to a loan that the corporation has originated, purchased, or
				  participated in purchasing under
				  AS
				  14.42.200.
Before July 31, 2016, the substance of 20 AAC 14.055 was
					 contained in former
					 20 AAC 15.810. The history note for 20 AAC 14.055 does not
					 reflect the history of the section under its former
					 number.
Authority:
AS
					 14.42.150
AS 14.42.200
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 2 - Alaska Education Loan Refinancing Program › 20 AAC 14.200 - Purpose

Current through May 31, 2024
The Alaska education loan refinancing program provides
				  residents of this state the opportunity to refinance qualified education loans
				  into one loan in order to lower borrowing costs or enable a borrower to better
				  manage the loan repayment obligation.
Authority:
AS
					 14.42.150
AS 14.42.200
AS 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 2 - Alaska Education Loan Refinancing Program › 20 AAC 14.205 - Applicability of other provisions

Current through May 31, 2024
(a) Unless the
				context otherwise requires, and except as provided in (b) of this section, the
				provisions of
				20 AAC 15.915,
				20 AAC 15.970,
				20 AAC 15.972,
				20 AAC 15.975, and
				20 AAC 15.990 apply to the Alaska education loan
				refinancing program under
				20 AAC 14.200-20 AAC 14.240.
(b) A
				borrower or cosigner, if any, who has previously defaulted under
				20 AAC 15.970(b)(1) is not considered to
				be in default status for the purpose of being eligible for a refinancing loan
				under 20 AAC 14.200 -
				20 AAC 14.240 if no payment is currently past due on the
				current amortization schedule of the loan.
Authority:
AS
					 14.42.150
AS 14.42.200
AS 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 2 - Alaska Education Loan Refinancing Program › 20 AAC 14.210 - Application procedure

Current through May 31, 2024
(a) The commission
				staff shall establish an application period based on money available for the
				Alaska education loan refinancing program. Once available money has been fully
				expended, commission staff shall close an application period.
(b) An individual applying for a refinancing
				loan must complete and submit an application and promissory note provided by the
				commission. The requirements of
				20 AAC 15.930(a) and (c) - (e) apply to an
				application for a refinancing loan.
Authority:
AS
					 14.42.150
AS 14.42.200
AS 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 2 - Alaska Education Loan Refinancing Program › 20 AAC 14.215 - Priority ranking of applicants

Current through May 31, 2024
If available money is not sufficient to fund all eligible
				  applications, refinancing loans will be awarded to applicants in the order in
				  which the commission receives completed applications.
Authority:
AS
					 14.42.150
AS 14.42.200
AS 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 2 - Alaska Education Loan Refinancing Program › 20 AAC 14.220 - Eligible loans

Current through May 31, 2024
(a) Loans eligible
				for refinancing under
				20 AAC 14.200 -
				20 AAC 14.240 must be qualified education loans and may
				include
(1) Stafford, PLUS, or federal
				consolidation loans;
(2) qualified
				education loans made by private or state lenders;
(3) loans made under
				AS
				14.43.091-14.43.160,
				14.43.170-
				14.43.175,
				14.43.600 -
				14.43.700, or
				14.43.710-14.43.750; and
(4) loans made under
				20 AAC 14.200 -
				20 AAC 14.240, when a new loan is being incorporated into
				an existing refinancing loan.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 2 - Alaska Education Loan Refinancing Program › 20 AAC 14.225 - Applicant eligibility

Current through May 31, 2024
(a) An applicant for
				a refinancing loan must
(1) meet the
				eligibility requirements of
				AS
				14.43.122(b);
(2) be a United States citizen or a 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); and
(3) have a credit history that demonstrates
				good credit, such as having a FICO score that is equal to or higher than the FICO
				score set by the corporation or providing documentation that the commission
				determines documents a history of an ability to repay the loan.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 2 - Alaska Education Loan Refinancing Program › 20 AAC 14.230 - Conditions and limitations of loans

Current through May 31, 2024
(a) The amount of
				refinancing loan is determined by the outstanding balance due on the underlying
				loans to be paid off through the refinancing program.
(b) The corporation may establish minimum and
				maximum loan limits.
(c) An applicant
				for a refinancing loan in excess of $50,000 must have earned the credential for
				which an underlying loan was awarded.
Authority:
AS
					 14.42.150
AS 14.42.200
AS 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 2 - Alaska Education Loan Refinancing Program › 20 AAC 14.235 - Interest rates and fees

Current through May 31, 2024
(a) The corporation
				will set interest rates and fees for refinancing loans in accordance with the
				applicable provisions of
				20 AAC 14.050.
(b) Interest begins to accrue from the date of
				loan origination.
(c) 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
					 14.42.150
AS 14.42.200
AS 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 2 - Alaska Education Loan Refinancing Program › 20 AAC 14.240 - Terms of repayment

Current through May 31, 2024
(a) Repayment of the
				principal and interest begins no later than 60 days following loan
				origination.
(b) The minimum monthly
				payment is the greater of $100 or the payment amount calculated to fully repay
				the refinancing loan within the loan repayment schedule including all costs of
				financing.
(c) Subject to (b) of this
				section, the loan repayment schedule must provide for repayment of the total
				amount owed in monthly installments over a minimum of five years and not more
				than 15 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.
(d) Payments shall be applied first to
				outstanding fees and interest, and then to principal.
Authority:
AS
					 14.42.150
AS 14.42.200
AS 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 14 - Alaska Student Loan Corporation › Article 3 - General Provisions › 20 AAC 14.900 - Definitions

Current through May 31, 2024
In this chapter, unless otherwise provided or the context
				  otherwise requires,
(1) "board" means
				the board of the corporation;
(2)
				"borrower" means the individual incurring the primary loan obligation and any
				cosigner on the loan;
(3) "commission"
				means the Alaska Commission on Postsecondary Education;
(4) "corporation" means the Alaska Student Loan
				Corporation;
(5) "corporation's bond
				counsel" means a counsel under contract with the Department of Law for the
				benefit of the corporation to provide legal advice on bond matters;
(6) "corporation's financial advisor" means a
				financial advisor on contract with the corporation to provide expertise on
				financial matters;
(7) "competitive
				sale" means a bond issuance in which the costs of borrowing are determined
				through bids received for the corporation's bonds;
(8) "cosigner" means an endorser;
(9) "endorser" means a person who signs a
				promissory note and who becomes secondarily liable for a loan obligation,
				agreeing to pay if the borrower does not pay;
(10) "executive officer" means the executive
				director of the commission;
(11)
				"installment" means any single scheduled payment on a borrower's loan;
(12) "negotiated sale" means a bond issuance in
				which the executive officer of the corporation negotiates both the bond yield and
				the underwriter's compensation;
(13)
				"PLUS loan" means a loan provided under
				20 U.S.C.
				1078-2;
(14) "qualified education loan" means a loan
				that meets the requirements of 26 U.S.C.
				144(b)(1)(B);
(15) "qualified underwriters list" means a list
				of underwriters that have been determined to be qualified to participate in the
				underwriter selection process described in
				20 AAC 14.035;
(16) "QUL" means qualified underwriters
				list;
(17) "refinancing loan" means a
				loan that meets the requirements of
				20 AAC 14.200 -
				20 AAC 14.240;
(18) "Stafford loan" means a federal loan
				authorized under 20 U.S.C.
				1071 -
				1078;
(19) "underwriters group" means one or more
				underwriters selected from the QUL through the underwriters selection process to
				provide underwriting services for a particular negotiated sale;
(20) "underwriters selection process" means the
				process of selection of an underwriting group from the QUL to participate in a
				bond issuance of the corporation done as a negotiated sale.
Before July 31, 2016, the substance of 20 AAC 14.900 was
					 contained in former
					 20 AAC 15.890. The history note for 20 AAC 14.900 does not
					 reflect the history of the section under its former
					 number.
Authority:
AS
					 14.42.150
AS 14.42.200
AS 14.42.265
AS
					 14.43.122
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 1 - Education Loans › 20 AAC 15.010 - Purpose of education loan program

Current through May 31, 2024
The education loan program is designed to increase access to
				  postsecondary education in the state by providing low-cost education loans to
				  eligible applicants.
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 15.010.
Authority:
AS
					 14.42.030
AS
					 14.43.105
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 1 - Education Loans › 20 AAC 15.036 - Limitations on granting loan awards

Current through May 31, 2024
For the purpose of determining the total of loans awarded to a
				  borrower under
				  AS
				  14.43.120(d),
(1) loans made under the memorial education
				loan programs (AS 14.43.250-14.43.325) and teacher education
				loan program (AS 14.43.600-14.43.700) are included;
				and
(2) "undergraduate study"
				includes career education programs.
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 15.036.
Authority:
AS
					 14.43.105
AS
					 14.43.120
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 1 - Education Loans › 20 AAC 15.060 - Resident forgiveness benefits

Current through May 31, 2024
(a) Under former
				AS
				14.43.120(j), a borrower of a
				loan awarded for the 1986-87 and preceding school years is eligible to have up to
				50 percent of all loans and accrued interest paid by the state if the borrower
				remains an Alaskan resident after the successful completion of the course of
				study for which the loan was granted, is awarded an appropriate degree, diploma,
				or certificate, and remains, except for brief periods not to exceed a total of
				180 days within a 12-month period, in the state during the period for which
				forgiveness is claimed. A borrower who does not qualify for forgiveness under
				this subsection may qualify under (h) or (j) of this section.
(b) To qualify for forgiveness benefits under
				former AS
				14.43.120(j), a borrower must
(1) except as provided in (i) of this section,
				be physically residing in Alaska within one year after completion of the course
				of study for which the loan was granted, or an extension of that period by
				deferment under
				AS
				14.43.120(k);
(2) provide a copy of the borrower's degree,
				diploma, or certificate of completion for the course of study for which the loan
				was granted;
(3) provide
				certification on a form provided by the commission that the borrower has
				satisfied the requirements of former
				AS
				14.43.120(j) and this
				section;
(4) be current in repayment
				under AS
				14.43.120 on the loan for which forgiveness 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 2 - AlaskAdvantage Federal Consolidation Loan Program › 20 AAC 15.086 - Purpose of the AlaskAdvantage federal consolidation loan program

Current through May 31, 2024
The AlaskAdvantage federal consolidation loan program provides
				  eligible borrowers the opportunity to combine multiple eligible outstanding
				  federally guaranteed education loans into one.
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
					 14.43.167
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 2 - AlaskAdvantage Federal Consolidation Loan Program › 20 AAC 15.087 - General program requirements

Current through May 31, 2024
The AlaskAdvantage federal consolidation loan program will be
				  administered under
				  AS
				  14.43.161-14.43.168,
				  20 U.S.C.
				  1001 -
				  1155 (Higher Education Act of 1965),
				  34.C.F.R.682, and published policies authorized by the
				  secretary.
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
					 14.43.167
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 2 - AlaskAdvantage Federal Consolidation Loan Program › 20 AAC 15.088 - Applicant eligibility

Current through May 31, 2024
(a) An applicant for an AlaskAdvantage federal
				consolidation loan must
(1) satisfy the
				residency criteria of
				AS
				14.43.162;
(2) have a minimum of $3,500 of eligible loan
				debt to be consolidated; and
(3)
				satisfy the eligibility criteria specified in
				20 U.S.C.
				1078- 20 U.S.C. 3(a)(3), 34 C.F.R.
				682.102, and  34 C.F.R. 682.201.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 2 - AlaskAdvantage Federal Consolidation Loan Program › 20 AAC 15.089 - Loan eligibility

Current through May 31, 2024
(a) Loans eligible for consolidation under this
				section are defined in 34
				C.F.R. 668.2, and
				34 C.F.R.
				682.100, and include
(1) the federal Stafford loan;
(2) a federal PLUS loan;
(3) the federal Perkins loan;
(4) the Federal Insured Student Loan Program
				(FISL);
(5) federal Supplemental
				Loans for Students (SLS);
(6)
				Auxiliary Loans to Assist Students (ALAS);
(7) the Health Professions Student Loan Program
				(HPSL);
(8) Loans for Disadvantaged
				Students (LDS);
(9) the Nursing
				Student Loan Program; and
(10)
				existing loans under the Federal Consolidation Loan Program, and William D. Ford
				Direct Loan Program (Direct Loan).
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 2 - AlaskAdvantage Federal Consolidation Loan Program › 20 AAC 15.090 - Application procedure

Current through May 31, 2024
(a) An individual applying for a federal
				consolidation loan
(1) must complete and submit
				the consolidation loan combined loan application and promissory note;
				and
(2) may not have another
				consolidation loan application pending.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 2 - AlaskAdvantage Federal Consolidation Loan Program › 20 AAC 15.091 - Loan disbursement

Current through May 31, 2024
(a) A federal consolidation loan will be
				considered disbursed when the first loan proceeds are transferred, by individual
				check, master check, or electric funds transfer (EFT), by the commission to the
				current holder of the loan being consolidated.
(b) In accordance with
				  34 C.F.R.
				682.206   and
				34 C.F.R.
				682.209, a verification certificate will be
				mailed to the holder of each eligible loan to certify the loan's eligibility and
				payoff amount.
(c) Upon receipt of
				the verification certificate from the holder of each eligible loan, the
				commission staff shall make payment to the holder for discharge of the loan in
				accordance with 34 C.F.R.
				682.206 and
				34 C.F.R.
				682.209.
Authority:
AS
					 14.42.030
AS
					 14.43.167
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 2 - AlaskAdvantage Federal Consolidation Loan Program › 20 AAC 15.092 - Loan fees, interest, and interest capitalization

Current through May 31, 2024
(a) A borrower will
				not be charged an origination fee on a federal consolidation loan.
(b) Interest on a federal consolidation loan
				will be set in accordance with 20 U.S.C. 1077 -
				1078,  34 C.F.R. 682.202, and
				AS
				14.43.165, not to exceed 8.25
				percent.
(c) An eligible subsidized
				loan included in the federal consolidation loan may remain subsidized, subject to
				the conditions set out in 34
				C.F.R. 682.301.
(d) Accrued interest and unpaid fees
(1) will be added to the principal balance at
				the time of consolidation;
(2) will
				be added to the principal balance at the end of a period of deferment or
				forbearance; and
(3) may be added to
				the principal balance at any time interest and fees are not paid when
				due.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 2 - AlaskAdvantage Federal Consolidation Loan Program › 20 AAC 15.093 - Loan servicing and repayment

Current through May 31, 2024
(a) Federal
				consolidation loans will be serviced in accordance with
				34 C.F.R.
				682.208.
(b) Repayment begins no later than 60 days from
				the date the federal consolidation loan is disbursed and must be repaid in
				accordance with 34 C.F.R.
				682.209.
(c) The minimum monthly payment on a federal
				consolidation loan is $50, unless the borrower and the commission staff agree to
				an alternate repayment amount.
Authority:
AS
					 14.43.030
AS
					 14.43.167
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 2 - AlaskAdvantage Federal Consolidation Loan Program › 20 AAC 15.094 - Loan deferment and forbearance

Current through May 31, 2024
(a) A borrower may
				defer payments of principal after the beginning of the repayment period in
				accordance with the conditions set out in
				20 U.S.C.
				1078 and
				34 C.F.R.
				682.210.
(b) Deferment eligibility is based on the
				deferment eligibility established with the borrower's eligible loans.
(c) In order to receive a deferment the
				borrower must submit a request for the deferment to the commission with
				documentation required by 34
				C.F.R. 682.210(c) -
				(t).
(d) Interest accrues and must be paid by the
				borrower during the deferment period and the post-deferment grace period, if
				applicable, unless the borrower qualifies for interest benefits as described in
				34 C.F.R.
				682.301.
(e) The commission staff may grant a
				forbearance of payments of principal or interest in accordance with the
				conditions set out in 34
				C.F.R. 682.211 to provide temporary or
				long-term repayment relief.
(f)
				Interest accrues during the period of an approved period of forbearance on a
				loan, and will be capitalized as part of the loan principal at the end of the
				forbearance period.
Authority:
AS
					 14.43.030
AS
					 14.43.167
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 2 - AlaskAdvantage Federal Consolidation Loan Program › 20 AAC 15.095 - Default

Current through May 31, 2024
A federal consolidation loan will be considered in default
				  under the conditions set out in the definition of "default" in
				  34 C.F.R.
				  682.200.
Authority:
AS
					 14.43.030
AS
					 14.43.167
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.100 - Purpose of AlaskAdvantage loan program

Current through May 31, 2024
The AlaskAdvantage loan program provides low-cost, federally
				  guaranteed education loans to residents of this state attending eligible
				  institutions, to students attending eligible institutions in this state, and to
				  parents of eligible students seeking to assist in financing their children's
				  postsecondary education.
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
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.105 - General program requirements

Current through May 31, 2024
The AlaskAdvantage loan program will be administered under
				  AS
				  14.43.161-14.43.168,
				  20 U.S.C.
				  1001 -
				  1155 (Higher Education Act of 1965),
				   34 C.F.R. 600, 668, and 682, and published policies authorized by the
				  secretary.
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
					 14.43.161
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.110 - AlaskAdvantage loan types

Current through May 31, 2024
AlaskAdvantage loan types include
(1) the federal subsidized Stafford
				loan;
(2) the federal unsubsidized
				Stafford loan;
(3) the federal PLUS
				loans; and
(4) a federal
				consolidation loan; a federal consolidation loan is subject to
				20 AAC 15.086 -
				20 AAC 15.095.
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
					 14.43.161
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.115 - Applicant eligibility

Current through May 31, 2024
(a) Except as provided in (b) and (c) of this
				section, to be considered for an AlaskAdvantage loan, an applicant must satisfy
				the eligibility criteria specified in
				AS
				14.43.162 and  34 C.F.R. 668 and 682.
(b) For purposes of the parent PLUS loan, the
				requirements of
				AS
				14.43.162(a)(1), (b), and (c)
				apply to the undergraduate student for whom the loan is borrowed or the parent
				PLUS borrower.
(c) For purposes of
				the parent PLUS loan, the requirements of
				AS
				14.43.162(a)(2) apply to the
				undergraduate student for whom the loan is borrowed.
(d) For purposes of the student PLUS loan, the
				requirements of
				AS
				14.43.162 apply to the graduate or professional
				student.
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 14.43.162
AS 14.43.163
AS
					 14.43.164
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.120 - Institutional eligibility

Current through May 31, 2024
(a) To be eligible to
				participate in the AlaskAdvantage loan program, institutions must meet the
				criteria of and operate in compliance with the requirements set out in  34 C.F.R.
				600.
(b) Institutions must meet the
				requirements for ongoing participation in the AlaskAdvantage loan program set out
				in  34 C.F.R. 600 and 668.
(c)
				Institutions offering programs through distance education must meet education
				requirements set out in 34
				C.F.R. 600.7.
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
					 14.48.050
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.125 - Application procedure requirements

Current through May 31, 2024
(a) A student
				applying for an AlaskAdvantage loan must complete and submit a Free Application
				for Federal Student Aid (FAFSA) to the United States Department of Education in
				the manner set out in the FAFSA.
(b)
				If the student's FFELP eligible school has not notified the student of the
				availability of the AlaskAdvantage loan, the commission staff shall provide that
				notification.
(c) After a FFELP
				eligible school, under  34 C.F.R. 668, calculates the amount of the student's
				eligibility for an AlaskAdvantage loan and requests the student's acceptance of a
				loan award, and upon the student's acceptance of that loan award, the student
				must complete a loan application and master promissory note and return it for
				certification by the FFELP eligible school's financial aid office.
(d) To apply for AlaskAdvantage PLUS loans, a
				parent who is applying for a parent PLUS loan, or graduate or professional
				student who is applying for a student PLUS loan, must
(1) complete and submit a FAFSA to the United
				States Department of Education, if that agency requires the submission of any
				FAFSA; and
(2) complete a loan
				application and promissory note and return those forms for certification by the
				FFELP eligible school's financial aid office.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.130 - Allowable use of loan proceeds

Current through May 31, 2024
AlaskAdvantage loan proceeds may be used, in accordance with
				  20 U.S.C.
				  1087
ll,
to pay the allowable
				  costs of attendance related to the student's period of
				  enrollment.
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 14.43.163
AS
					 14.43.164
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.135 - Loan fees and accrual of interest

Current through May 31, 2024
(a) A borrower who
				receives a subsidized Stafford loan is not required to make loan principal
				payments during the time the borrower is enrolled in school on at least a
				half-time basis.
(b) If the borrower
				receives a subsidized or unsubsidized Stafford loan, and ceases to be enrolled in
				school on at least a half-time basis, a six-month grace period begins, during
				which no principal payments are due.
(c) A borrower who receives an unsubsidized
				Stafford loan shall pay interest accruing during the in-school and grace
				periods.
(d) For federal PLUS loans,
				interest accrues from the date of the first disbursement and loan repayment
				begins after the last loan disbursement, except during periods of authorized
				deferment or forbearance. A parent PLUS loan borrower may elect to defer payments
				until six months after the student ceases to be enrolled at least half-time, and
				may pay accrued interest monthly or quarterly. Unpaid interest will be
				capitalized.
(e) A borrower may be
				charged an origination fee on an AlaskAdvantage loan in accordance with
				34 C.F.R.
				682.202 if that charge is provided for in the
				promissory note.
(f) A borrower may
				be charged the amount of the insurance premium or federal default fee paid by the
				commission to the guarantor, if that charge is provided for in the promissory
				note.
(g) Accrued interest and unpaid
				insurance premiums or federal default fees payable by the borrower may be added
				to the principal balance in accordance with
				34 C.F.R.
				682.202(b).
(h) A borrower or endorser may be charged a
				late fee relative to a payment not made when due if authorized by the borrower's
				promissory note, and subject to the conditions set out in
				34 C.F.R.
				682.202(f).
(i) The borrower or any endorser may be
				required to pay costs incurred by the commission or through the commission's
				agents in collecting installments not paid when due, including
(1) attorney's fees;
(2) court costs;
(3) collection agency fees; and
(4) late fees.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.140 - Limitations on loan amounts

Current through May 31, 2024
The Alaska Commission on Postsecondary Education's website is
www.acpe.alaska.gov
.
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 Alask Advantage loan
					 program made by secs. 10, 13, and 28, ch. 63, SLA
					 2004.
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.145 - Loan disbursement and refund

Current through May 31, 2024
AlaskAdvantage loans will be disbursed in accordance with
				  34 C.F.R.
				  668.22,
				  668.164, and
				  682.207.
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 14.43.163
AS
					 14.43.164
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.150 - Loan servicing and repayment

Current through May 31, 2024
(a) AlaskAdvantage
				loans will be serviced and must be repaid in accordance with
				34 C.F.R.
				682.208,
				34 C.F.R.
				682.209, and
				34 C.F.R.
				682.215.
(b) A minimum monthly payment amount must be at
				least $50, unless otherwise agreed to by the borrower and the
				commission.
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
					 14.43.166
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.155 - Loan deferment

Current through May 31, 2024
(a) A borrower, but not an endorser, may defer
				payments of principal on an AlaskAdvantage loan after the beginning of the
				repayment period in accordance with the conditions set out in
				20 U.S.C.
				1077 and
				34 C.F.R.
				682.210.
(b) In order to receive a deferment the
				borrower must request the deferment and submit any documentation required by
				34 C.F.R.
				682.210 to the commission for
				approval.
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
					 14.43.166
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.160 - Loan forbearance

Current through May 31, 2024
(a) For the benefit of a borrower or endorser,
				the commission may grant, in accordance with
				34 C.F.R.
				682.211, a forbearance of payments of principal
				or interest on an AlaskAdvantage loan.
(b) The commission will grant mandatory
				forbearances in accordance with
				34 C.F.R.
				682.211(h) and (i).
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
					 14.43.166
Alaska Administrative Code › Title 20 - Miscellaneous Boards and Commissions › Chapter 15 - Student Financial Aid › Article 3 - AlaskAdvantage Loan Program › 20 AAC 15.165 - Default

Current through May 31, 2024
An AlaskAdvantage loan will be considered in default under the
				  conditions set out in the definition of "default" in 34. C.F.R.
				  682.200.
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
					 14.43.168