Alaska Administrative Code
Title 20 - Miscellaneous Boards and Commissions
Chapter 15 - Student Financial Aid
Article 11 - General Provisions
20 AAC 15.935 - Computation of authorized loan awards

Universal Citation: 20 AK Admin Code 20 AAC 15.935

Current through November 28, 2024

(a) A loan award is based upon allowable expenses as computed by the enrolling institution and approved by the commission. The loan award for a student - enrolled for less than a full school year is prorated based upon the actual period of attendance.

(b) The minimum authorized loan award for an applicant is $500 for a school year.

(c) Loan awards are made subject to funding availability.

(d) For students enrolled less than full-time, allowable costs of attendance are

(1) tuition and required fees; and

(2) required books, supplies, and equipment.

(e) For loans made under AS 14.43.170-14.43.175 (Alaska supplemental education loan program) AS 14.43.710-14.43.750 or (Alaska family education loan program), the maximum annual loan award to a borrower for

(1) an eligible undergraduate student is
(A) $14,000 for on-time enrollment;

(B) $12,500 for full-time enrollment;

(C) $7,500 for half-time enrollment;

(2) an eligible graduate student is
(A) $15,000 for full-time enrollment;

(B) $7,500 for half-time enrollment; and

(3) an eligible student attending a career education program, the duration of which is at least 180 hours over a period of not less than six weeks, and that culminates in a terminal certificate designed to lead to employment, is $10,000.

Authority:AS 14.43.105

AS 14.43.110

AS 14.43.120

AS 14.43.173

AS 14.43.320

AS 14.43.630

AS 14.43.640

AS 14.43.740

Disclaimer: These regulations may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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