Alaska Administrative Code
Title 20 - Miscellaneous Boards and Commissions
Chapter 18 - WICHE Professional Student Exchange Loan Program
20 AAC 18.130 - Deferment of payments
Current through February 27, 2024
(a) A borrower may defer the borrower's obligation to make periodic payments under 20 AAC 18.100(e) during any of the following periods:
(b) A deferment of payments does not suspend the accrual of interest due on the PSE loan during the period of the deferment.
(c) In order to obtain a deferment of payments, a borrower must apply on 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 deferment application is approved by the commission staff, the borrower's original repayment schedule continues in effect. If the borrower meets the requirements of this section, the commission staff shall approve the deferment. If the deferment is approved, the commission staff shall send the borrower the deferment agreement.
(d) A borrower who has received a deferment shall immediately notify the commission if the conditions under which the deferment was granted no longer exist.
(e) A borrower who has defaulted on a PSE loan is not eligible for a deferment of that loan.
(f) For purposes of (a)(1) of this section, a student who is in an internship or residency that is required as part of the program of study is a full-time student.
(g) For purposes of (a)(3) of this section, a deferment may not be granted for a condition that existed at the time the PSE loan was disbursed unless the condition has substantially deteriorated since the time of the disbursement.
Authority:AS 14.44.035
AS 14.44.040