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- Alaska Statutes.
- Title 14. Education, Libraries, and Museums
- Chapter 43. Financial Aid Programs For Postsecondary Students
- Section 720. Family Education Loan Account.
previous: Section 710
. Program Established.
next: Section 730
. Administration. [Repealed, Sec. 42 Ch 85 SLA 2001].
AS 14.43.720. Family Education Loan Account.
- (a) The family education loan account is created within the education loan fund (AS 14.42.210
). The account shall be used to make family education loans to families selected under AS 14.43.710
- 14.43.750, to pay the costs of collecting family
education loans that are in default if those costs are not recovered from the family, and to pay the costs of
administering the account. Unless the instrument evidencing the family education loan has been sold or assigned to the
Alaska Student Loan Corporation, repayments of principal and interest on family education loans shall be paid into the
family education loan account. If estimated funds available from family education loan repayments are inadequate to
fully fund estimated family education loans in a fiscal year, additional funding from the general fund may be requested
and appropriated for that year.
- (b) The commission may sell or assign notes and other instruments evidencing family education loans to the Alaska Student
Loan Corporation and enter into agreements with the corporation relating to loans, the administration of the education
loan fund created under AS 14.42.210, and the payment
of and security for bonds of the corporation. Proceeds from the sale or assignment of notes and other instruments shall
be deposited in the family education loan account.
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