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- Alaska Statutes.
- Title 14. Education, Libraries, and Museums
- Chapter 43. Financial Aid Programs For Postsecondary Students
- Section 620. Teacher Education Revolving Loan Fund.
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. Program Established.
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AS 14.43.620. Teacher Education Revolving Loan Fund.
- (a) There is created a teacher education revolving loan fund. The fund shall be used to make education loans to students
selected under AS 14.43.600 - 14.43.700. Unless the instrument evidencing the teacher
education loan has been sold or assigned to the Alaska Student Loan Corporation, repayments of principal and interest
on a teacher education loan shall be paid into the teacher education revolving loan fund and shall be used to make new
teacher education loans. If estimated funds available are inadequate to fully fund estimated teacher education loans
for any fiscal year, additional funding from the general fund may be requested and appropriated for that year.
- (b) The commission may sell or assign notes and other instruments evidencing teacher education loans to the Alaska Student
Loan Corporation and enter into agreements with the corporation relating to loans, the administration of the education
loan fund created under AS 14.42.210 and the payment
of and security for bonds of the corporation. Proceeds from the sale or assignment of the notes or other instruments
shall be deposited in the teacher education revolving loan fund.
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