Alaska Administrative Code

(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 (b) Repealed 12/31/2005.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 …

(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 inten…

(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 (b) Repealed 12/29/2010. (c) Repealed 12/29/2010.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…

(a) Repealed 12/29/2010. (b) A borrower's repayment schedule under AS 14.43.175 shall require 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 b…

(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 (b) Repealed 12/31/2005. (c) Repealed 12/31/2005…

(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 (b) Repealed 12/31/2005. (c) Repealed 12/31/2005. (d) Repealed 12/29/2010. (e) Repealed 12/29/2010. (f) Repealed 12/29/2010. Notes 20 AAC 15.755 Eff. 7/1/2002, Register 162; am 12/31/2005, Register 1…

A request for medical cancellation of an ASEL will be considered under 20 AAC 15.920. Notes 20 AAC 15.760 Eff. 7/1/2002, Register 162 Authority:AS 14.42.030 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most r…

Delinquency and default of an ASEL will be determined under 20 AAC 15.970. Notes 20 AAC 15.765 Eff. 7/1/2002, Register 162 Authority:AS 14.42.030 AS 14.42.171 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most…

Complaints and appeals regarding administration of the ASELP will be considered under 20 AAC 15.915. Notes 20 AAC 15.770 Eff. 7/1/2002, Register 162; am 1/30/2003, Register 165 Authority:AS 14.42.030 State regulations are updated quarterly; we currently have two versions availabl…

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 …

The commission staff shall calculate an institutional rate of default under AS 14.43.120(d)(4) and 20 AAC 15.925. Notes 20 AAC 15.780 Eff. 7/1/2002, Register 162 Authority:AS 14.42.030 AS 14.43.171 State regulations are updated quarterly; we currently have two versions available.…

(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 …

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. Notes 20 AAC 15.790 Eff. 7/1/2002…

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) "…

Notes 20 AAC 15.810 Eff. 11/4/94, Register 132; am 4/24/98, Register 146; am 12/26/2014, Register 212, January 2015; repealed 7/31/2016, Register 219, October 2016 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 15.8…

Notes 20 AAC 15.815 Eff. 11/5/2000, Register 156; repealed 7/31/2016, Register 219, October 2016 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 …

Notes 20 AAC 15.820 Eff. 11/5/2000, Register 156; repealed 7/31/2016, Register 219, October 2016 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 …

Notes 20 AAC 15.825 Eff. 11/5/2000, Register 156; repealed 7/31/2016, Register 219, October 2016 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 …

Notes 20 AAC 15.830 Eff. 11/5/2000, Register 156; repealed 7/31/2016, Register 219, October 2016 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 …

Notes 20 AAC 15.835 Eff. 11/5/2000, Register 156; repealed 7/31/2016, Register 219, October 2016 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 …

Notes 20 AAC 15.840 Eff. 11/5/2000, Register 156; repealed 7/31/2016, Register 219, October 2016 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 …

Notes 20 AAC 15.845 Eff. 11/5/2000, Register 156; repealed 7/31/2016, Register 219, October 2016 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 …

Notes 20 AAC 15.850 Eff. 11/5/2000, Register 156; repealed 7/31/2016, Register 219, October 2016 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 …

Notes 20 AAC 15.855 Eff. 3/1/2002, Register 161; am 11/20/2005, Register 176; am 5/27/2006, Register 178; am 7/12/2009, Register 191; am 6/24/2010, Register 194; am 7/25/2014, Register 211; am 12/26/2014, Register 212, January 2015; repealed 7/31/2016, Register 219, October 2016 …

Notes 20 AAC 15.860 Eff. 2/14/2003, Register 165; am 11/20/2005, Register 176; am 6/24/2010, Register 194; repealed 12/26/2014, Register 212, January 2015 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most rec…

Notes 20 AAC 15.890 Eff. 11/4/94, Register 132; am 11/5/2000, Register 156; am 12/26/2014, Register 212, January 2015; repealed 7/31/2016, Register 219, October 2016 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…

(a) Unless otherwise stated, the provisions of 20 AAC 15.915 - 20 AAC 15.990 apply generally to the (1) education loan program under AS 14.43.091- 14.43.160; (2) consolidation loan program under AS 14.43.122; (3) memorial education loan program under AS 14.43.250- 14.43.325; (4) …

(a) Except as provided in AS 44.64.030, a complaint or an appeal of a decision of or the program administration by the commission staff is governed by this section. (b) The commission staff must answer a written complaint regarding a decision of or the program administration by t…

(a) Notwithstanding 20 AAC 15.915, an application to cancel a promissory note under a term of the promissory note permitting cancellation for medical disability is governed by this section. (b) A borrower seeking cancellation of a loan due to medical disability may not obtain can…

(a) To participate in Alaska education loan programs, an institution must apply for and be granted approval under this section. (b) To be eligible to participate in Alaska education loan programs, an institution must meet the requirements of AS 14.43 and this section and be (1) a…

(a) An institution that participates in an Alaska education loan program under 20 AAC 15.922 is subject to periodic audits for purposes of determining verification of education loan eligibility, management of education loan documents, compliance with the program participation agr…

(a) The commission staff shall calculate an institutional rate of default under AS 14.43.120(d)(4) as follows: (1) the denominator in the calculation is the total principal balance of those loans that began repayment during a specified calendar year and that remained in repayment…

(a) An institution with a default rate calculated under 20 AAC 15.925 in excess of 20 percent must develop and submit a default reduction plan, acceptable to the commission, within 45 days after the date of the default rate determination. (b) An institution that fails to comply w…

(a) The executive director of the commission shall appoint staff to review applications for loans. Commission staff shall determine an applicant's eligibility under the statutes and regulations applicable to the program, whether all requirements for a loan have been met, and the …

(a) A loan award is based upon allowable expenses as computed by the enrolling institution and approved by the commission. The loan award for a student - enrolled for less than a full school year is prorated based upon the actual period of attendance. (b) The minimum authorized l…

(a) A loan may not be awarded for (1) an educational program that is a vocational or recreational in nature; (2) flight instruction leading to certification as a private pilot; (3) a flight school program, unless the student holds a private pilot's certificate at the time of appl…

(a) Within 30 days after the change, a borrower or cosigner, if any, shall report in writing to the commission any change that affects the conditions of a loan or its repayment schedule, including any change of the borrower's or cosigner's name or address, the borrower's state re…

(a) The commission will disburse a loan in installments based upon the terms, quarters, or semesters used by the institution of attendance. A loan for attendance at an institution that does not operate on a term, quarter, or semester system will be disbursed in two installments. …

(a) In the event a recipient of an education loan provided under AS 14.43 becomes eligible for a total or partial refund of $50 or more, the institution shall, within 30 days of the date that the student becomes eligible for the refund, make any refund in excess of any required r…

(a) For an interest-bearing loan other than a family education loan, commission staff shall add accrued interest to the principal balance of the loan at the time the borrower is obligated to commence repayment under AS 14.43.120(g) or at the end of a deferment period under AS 14.…

(a) In order to obtain a deferment of payments under AS 14.43.120(k), a borrower must complete a form provided by the commission, showing the borrower's eligibility for the requested deferment and acceptance of the term's of the deferment agreement. Until the request for defermen…

(a) Under AS 14.43.120(g) the commission may provide a borrower with a loan forbearance or alternative repayment schedule to provide a short- or long-term rate of repayment relief. A borrower may not obtain a loan forbearance of a family education loan awarded under AS 14.43.710-…

(a) A loan is delinquent if a loan payment is one or more days past due. When a loan payment is (1) 30 or more days past due, the borrower and cosigner, if any, will be notified; (2) 60 or more days past due, the institution of attendance will be notified. (b) A loan is in defaul…

(a) An order under AS 14.43.147 to an employer to withhold and deliver from a borrower's or cosigner's earnings must include notice of the exemptions and limitations under AS 09.38 and 15 U.S.C. sec. 1673 on the total amount to be withheld. Within three weeks of the receipt of th…

The borrower or cosigner, if any, shall pay the costs incurred in the collection of a delinquent loan. Costs of collection may include (1) court filing costs; (2) attorney fees; (3) for a loan transferred to a collection agency, the fees charged by that agency; and (4) for a loan…

Notes 20 AAC 15.980 Eff. 7/1/96, Register 138; repealed 3/22/97, Register 141 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be…

(a) Except for a purpose described in a provision set out in (b) of this section, the term "borrower" or "loan recipient" does not include a cosigner. (b) For the purposes of AS 14.43.120(h), 14.43.145, 14.43.147, 14.43.150, 14.43.172(d), and 14.43.750(a), the term "borrower" or …

(a) In this chapter, unless otherwise provided or the context otherwise requires, (1) "clock hour" means a period of time that is not less than a 50-minute class, lecture, or recitation; (2) "collegiate program" means a program of study for which credit hours are awarded toward a…

The Alaska education grant program provides higher education grants to residents of this state attending institutions eligible under 20 AAC 16.021 and who demonstrate financial need based on information obtained from the free Application for Federal Student Aid (FAFSA). This gran…

(a) An applicant for an AlaskAdvantage education grant(1) must meet the requirements of AS 14.43.415(a); (2) must be a resident of this state as described in AS 14.43.162(b); (3) repealed 2/22/2015; (4) repealed 2/22/2015; (5) must be a United States citizen or permanent resident…