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(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 terms of the deferment agreement. Until the request for deferment is approved by commission staff, the borrower's original repayment schedule continues in effect. If the borrower meets the requirements of AS 14.43.120 (k), commission staff shall approve the deferment. If the deferment is approved, commission staff shall send the borrower the deferment agreement.
(b) A borrower who has received a deferment shall immediately notify the commission if the conditions under which the deferment was granted no longer exist.
(c) A borrower who has defaulted on a loan is not eligible for a deferment of that loan under AS 14.43.120 (k).
(d) For purposes of AS 14.43.120 (k), a student who is in an internship or residency that is required as part of the program of study, and that does not exceed 48 months, is a full-time student.
(e) For purposes of AS 14.43.120 (k)(8), a deferment may not be granted for a condition that existed at the time the loan was disbursed unless the condition has substantially deteriorated since the time of the disbursement.
(f) This section does not apply to the family education loan program under AS 14.43.710 - 14.43.780.
History: Eff. 3/22/97, Register 141; am 3/15/98, Register 145
Authority: AS 14.43.105
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Last modified 7/05/2006