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- Alaska Statutes.
- Title 14. Education, Libraries, and Museums
- Chapter 43. Financial Aid Programs For Postsecondary Students
- Section 740. Loan Terms, Limits, and Conditions.
previous: Section 730
. Administration. [Repealed, Sec. 42 Ch 85 SLA 2001].
next: Section 750
AS 14.43.740. Loan Terms, Limits, and Conditions.
- (a) The provisions of AS 14.43.100
, 14.43.120(a) - (c), (m), and (r) - (u), 14.43.122, 14.43.135, 14.43.145 - 14.43.155, and 14.43.910 - 14.43.990 apply to a loan made under AS 14.43.710
- (b) [Repealed, Sec. 18 ch 54 SLA 1997].
- (c) Interest on a loan made under AS 14.43.710
- 14.43.750 is at a rate of five percent a year
unless the loan is in default. Interest on a loan that is in default is 10 percent a year.
- (d) Repayment of the principal and interest on a loan made under AS 14.43.710 - 14.43.750 begins on the first of the month immediately
following loan disbursement. The loan may be cancelled without prejudice at any time before actual disbursement. The
loan shall provide for repayment of the total amount owed in periodic installments in not more than 10 years from the
commencement of repayment. If the commission and the borrower agree to a different repayment schedule, the borrower
shall repay the loan in accordance with the agreement.
- (e) Provision shall be made for payment by the borrower of fees and costs incurred in collection of delinquent or
- (f) The commission may withhold disbursement of a loan if the borrower or family member is no longer eligible under AS 14.43.750
- (g) The commission may, by regulation, set loan limits for loans made under AS 14.43.710
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