Alaska Administrative Code
Title 20 - Miscellaneous Boards and Commissions
Chapter 15 - Student Financial Aid
Article 11 - General Provisions
20 AAC 15.990 - Definitions
Universal Citation: 20 AK Admin Code 20 AAC 15.990
Current through November 28, 2024
(a) In this chapter, unless otherwise provided or the context otherwise requires,
(1) "clock hour" means a period of time that
is not less than a 50-minute class, lecture, or recitation;
(2) "collegiate program" means a program of
study for which credit hours are awarded toward an associate, baccalaureate, or
higher degree;
(3) "commission"
means the Alaska Commission on Postsecondary Education;
(4) "corporation" means the Alaska Student
Loan Corporation;
(5) "full-time
student" means
(A) an undergraduate student,
in good standing, who is enrolled in any combination of courses, work
experiences, research, or special studies that the institution requires to
consider the student as engaged in full-time study and that amounts to the
equivalent of at least 12 undergraduate semester or quarter hours per academic
term;
(B) a graduate student, in
good standing, who is enrolled in any combination of courses, work experiences,
research, or special studies that the institution requires to consider the
student as engaged in full-time study and that amount to the equivalent of at
least nine graduate semester or quarter hours per academic term;
(C) a student enrolled in a non-flight school
career education program for at least six weeks in duration and for a minimum
of 30 clock hours a week; in this subparagraph, "enrolled" means enrolled and
attending for the specified minimum number of clock hours except for
(i) excused and unexcused absences on record
at the institution of attendance that do not exceed 15 percent of the total
possible contracted hours elapsed since the beginning of the contracted
enrollment period of the course of study; or
(ii) periods of approved leave of absence
verified as described in
20 AAC 17.110(b)
(10); or
(D) a student enrolled in an approved flight
school program who logs a minimum of 17 hours per month, or 51 hours for a
three-month period;
(6)
"graduate degree program" means an educational program for which a master's
degree, doctorate, or other degree requiring study beyond that necessary for a
bachelor's degree is awarded;
(7)
"half-time student" means
(A) an undergraduate
student, in good standing, who is enrolled in any combination of courses, work
experiences, research, or special studies that the institution requires to
consider the student as engaged in half-time study and that amount to the
equivalent of at least six, but less than 12, undergraduate semester or quarter
hours per academic term;
(B) a
graduate student, in good standing, who is enrolled in any combination of
courses, work experiences, research, or special studies that the institution
requires to consider the student as engaged in half-time study and that amounts
to the equivalent of at least six, but less than nine, graduate semester or
quarter hours per academic term; or
(C) a student enrolled in good standing in a
career education program of at least 12 weeks in duration and for at least 15
clock hours a week; in this subparagraph, "enrolled" means enrolled and
attending for the specified minimum number of clock hours except for
(i) excused and unexcused absences on record
at the institution of attendance that do not exceed 15 percent of the total
possible contracted hours elapsed since the beginning of the contracted
enrollment period for the course of study; or
(ii) periods of approved leave of absence
verified as described in
20 AAC 17.110(b)
(10);
(8) "successfully complete" means to complete
a course for which academic credit is earned;
(9) "cosigner" means an endorser;
(10) "refund" means any amount due to a
funding source as a result of a change in financial aid award, student
enrollment, or attendance status relative to eligibility for and determination
of the amount of the financial aid award;
(11) "business day" means a day other than
Saturday, Sunday, or a state holiday;
(12) "disburse" means to make awarded loan
proceeds available to the borrower, including by crediting those loan proceeds
to a borrower's student account at the institution of attendance;
(13) "ACH transaction" means an electronic
transaction by means of the Automated Clearing House network for the interbank
clearing of electronic payments for participating depository financial
institutions;
(14) Repealed
4/6/2018;
(15) Repealed
4/6/2018;
(16) repealed
4/2/2004;
(17) "endorser" means a
person who signs a promissory note, or an endorser addendum for a PLUS loan,
and who, by signing that note or addendum, becomes secondarily liable for a
loan obligation, agreeing to pay if the borrower does not pay;
(18) "FFELP eligible school" means a
postsecondary institution of higher education or a postsecondary vocational
school that the department has declared eligible to participate in the
FFELP;
(19) "FAFSA" means the Free
Application for Federal Student Aid, as developed under
20 U.S.C.
1082(m)(1)(C) and described
in
34 C.F.R.
682.102(a);
(20) "FFELP" means the Federal Family
Education Loan Program established under
20 U.S.C.
1070-
1099 c (Title IV of
the Higher Education Act of 1965);
(21) "secretary" means the United States
Secretary of Education;
(22)
"AlaskAdvantage" means the service mark registered by the commission under
15 U.S.C.
1051 (Trademark Act) and used to describe
financial aid and higher education outreach programs and services provided by
the commission;
(23) "FICO" means
Fair, Isaac, and Co. Inc., a developer of credit risk scores used by credit
grantors in the lending process;
(24) "PSE" means the Professional Student
Exchange program of WICHE;
(25)
"WICHE" means the Western Interstate Commission for Higher Education;
(26) "Stafford loan" means a federal loan
authorized under
20
U.S.C. 1071-
1078.
(27) "vocational program'; or "vocational
certificate program," means a career and technical course of study in a
recognized occupation leading to a terminal diploma, credential, or comparable
certificate of completion, designed to lead to employment or occupational
competencies.
(b) For the purposes of AS 14.43.120(c), "to maintain a loan" means to continue to be eligible for loan disbursements.
(c) For the purposes of AS 14.43.125(a), "dependent on" or "dependent of" means an individual under the age of 24 on December 31 of the loan award year who was claimed as a dependent by the individual's parent or guardian for federal income tax purposes for the year preceding the loan award year.
(d) For purposes of the definition of "career education" in AS 14.43.160, "course or program in vocational-technical training or education" means a course of study in a recognized occupation leading to a degree, diploma, or comparable certificate of completion.
Authority:AS 14.42.030
AS 14.43.105
AS 14.43.120
AS 14.43.125
AS 14.43.160
AS 14.43.320
AS 14.43.630
AS 14.43.740
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