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- Alaska Statutes.
- Title 14. Education, Libraries, and Museums
- Chapter 42. Postsecondary Education
- Section 210. Education Loan Fund and Program Administration.
previous: Section 205
. Supplemental Education Loans: Financing Program.
next: Section 220
. Bonds of the Corporation.
AS 14.42.210. Education Loan Fund and Program Administration.
- (a) The education loan fund is established in the corporation. The education loan fund is a trust fund to be used to carry
out the purposes of AS 14.42.100
- 14.42.990, AS 14.43.091
- 14.43.175, 14.43.400 - 14.43.420, 14.43.600 - 14.43.700, 14.43.710 - 14.43.750, 14.43.990, and AS 14.44.025
. The fund consists of money or assets appropriated or transferred to the corporation for the fund and money or assets
deposited in it by the corporation. The corporation may establish separate accounts in the fund.
- (b) Money and other assets of the education loan fund may be used to
- (1) secure bonds of the corporation;
- (2) pay the costs of administration of the fund;
- (3) invest in education loans and investments under AS 37.10.071
- (4) finance programs approved under AS 14.43.091
- 14.43.175, 14.43.400 - 14.43.420, 14.43.600 - 14.43.700, 14.43.710 - 14.43.750, or AS 14.44.040
- (5) pay the costs of administering and collecting the loans and repayment obligations under the financial aid programs
listed in (4) of this subsection.
- (c) The financial aid programs listed in (b)(4) of this section shall be administered by the commission. The corporation
and the commission may enter into agreements relating to the administration of the programs. The corporation may assign
its rights under the agreements for the benefit and security of holders of its bonds.
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