Alaska Administrative Code
Title 20 - Miscellaneous Boards and Commissions
Chapter 15 - Student Financial Aid
Article 2 - AlaskAdvantage Federal Consolidation Loan Program
20 AAC 15.088 - Applicant eligibility

Universal Citation: 20 AK Admin Code 20 AAC 15.088

Current through November 28, 2024

(a) An applicant for an AlaskAdvantage federal consolidation loan must

(1) satisfy the residency criteria of AS 14.43.162;

(2) have a minimum of $3,500 of eligible loan debt to be consolidated; and

(3) satisfy the eligibility criteria specified in 20 U.S.C. 1078- 20 U.S.C. 3(a)(3), 34 C.F.R. 682.102, and 34 C.F.R. 682.201.

(b) For purposes of (a) of this section, a borrower's residency requirement may be considered met if the borrower has an active loan with the commission.

(c) An applicant must disclose on the combined application and promissory note the existence of a defaulted loan.

As of Register 172 (January 2005), and acting under AS 44.62.125(b)(6) and sec. 34, ch. 63, SLA 2004, the regulations attorney made technical changes to reflect the name change of the Alaska advantage loan program to the AlaskAdvantage loan program made by secs. 10, 13, and 28, ch. 63, SLA 2004.

Authority:AS 14.42.030

AS 14.43.162

AS 14.43.163

AS 14.43.164

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