Alaska Administrative Code

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. Notes 20 AAC 15.105 Eff. 7/1/2002, Register 162 As of Register…

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. Notes 20 AAC 15.110 …

(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…

(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 …

(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 o…

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. Notes 20 AAC 15.130 Eff. 7/1/2002, Register 162 As of Register 172 (January 2005), and acting under AS 44.62.125(…

(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 enrol…

Notes 20 AAC 15.140 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 …

AlaskAdvantage loans will be disbursed in accordance with 34 C.F.R. 668.22, 668.164, and 682.207. Notes 20 AAC 15.145 Eff. 7/1/2002, Register 162; am 1/30/2003, Register 165; am 7/12/2008, Register 187 As of Register 172 (January 2005), and acting under AS 44.62.125(b)(6) and sec…

(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. Notes 20 AAC 15.1…

(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 requ…

(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…

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. Notes 20 AAC 15.165 Eff. 7/1/2002, Register 162 As of Register 172 (January 2005), and acting under AS 44.62.125(b)(6) and sec. 34, ch. 63, SLA …

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)…

The AlaskAdvantage consolidation loan program is available to an eligible borrower to refinance eligible loans. Notes 20 AAC 15.171 Eff. 3/19/2003, Register 166; am 7/31/2003, Register 167 Authority:AS 14.42.030 AS 14.43.105 AS 14.43.122

(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 t…

(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 consolidat…

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. Notes 20 AAC 15.180 Eff. 3/19/2003, Register 166; am 7/31/2003, Register 167 Authority:AS 14.42.030 AS…

(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 $3,5…

(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 note…

(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 outs…

(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 t…

(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 accr…

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; (…

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 e…

(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 distrib…

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. Notes 20 A…

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 e…

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 e…

Notes 20 AAC 15.225 Eff. 8/26/86, Register 99; am 11/26/94, Register 132; repealed 3/22/97, Register 141

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. Notes 20 AAC 15.230 Eff. 8/16/86, Register 99; am 5/8/88, Register 106; am 11/28/92, Re…

Notes 20 AAC 15.235 Eff. 8/16/86, Register 99; am 11/26/94, Register 132; repealed 3/22/97, Register 141

Notes 20 AAC 15.240 Eff. 8/16/86, Register 99; am 11/26/94, Register 132; am 11/27/94, Register 132; am 12/4/96, Register 140; am 3/22/97, Register 141; repealed 3/15/98, Register 145

Notes 20 AAC 15.245 Eff. 8/16/86, Register 99; am 11/27/94, Register 132; repealed 3/22/97, Register 141

(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 proo…

Notes 20 AAC 15.255 Eff. 8/16/86, Register 99; repealed 12/4/96, Register 140

Notes 20 AAC 15.260 Eff. 8/16/86, Register 99; am 11/28/92, Register 124; repealed 6/23/95, Register 134

Notes 20 AAC 15.265 Eff. 8/16/86, Register 99; am 11/28/92, Register 124; repealed 6/23/95, Register 134

Notes 20 AAC 15.270 Eff. 8/16/86, Register 99; repealed 6/23/95, Register 134

Notes 20 AAC 15.275 Eff. 8/16/86, Register 99; am 6/26/87, Register 102; repealed 3/22/97, Register 141

(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 te…

Notes 20 AAC 15.300 Eff. 7/27/86, Register 99; repealed 7/1/2002, Register 162

Notes 20 AAC 15.305 Eff. 7/27/86, Register 99; repealed 7/1/2002, Register 162

Notes 20 AAC 15.310 Eff. 7/27/86, Register 99; repealed 7/1/2002, Register 162

Notes 20 AAC 15.315 Eff. 7/27/86, Register 99; repealed 7/1/2002, Register 162

Notes 20 AAC 15.320 Eff. 7/27/86, Register 99; repealed 7/1/2002, Register 162

Notes 20 AAC 15.325 Eff. 7/27/86, Register 99; repealed 7/1/2002, Register 162