Alaska Statutes.
Title 14. Education, Libraries, and Museums
Chapter 43. Financial Aid Programs For Postsecondary Students
Section 174. Interest.
previous: Section 173. Loan Award Maximums; Use of Loan Award.
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AS 14.43.174. Interest.

(a) The interest rate on a loan made under AS 14.43.170 - 14.43.175 shall be set by the corporation, but the annual rate may not exceed 8.25 percent. Interest on a loan made under AS 14.43.170 - 14.43.175 accrues from the time the loan is disbursed.

(b) A borrower may elect to make payments of interest that is payable during the borrower's term of attendance at the postsecondary institution or during certain deferment periods authorized by the commission; however, the commission shall capitalize any unpaid interest as part of the principal to be repaid as agreed, or upon graduation, withdrawal, or completion of the deferment period.

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