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(a) Borrowing under the AlaskAdvantage loan program is subject to the annual and aggregate lifetime limits set out in 34 C.F.R. 682.204.
(b) The minimum loan award for an applicant is determined annually and will be the lesser of
(1) $500 for the school year; or
(2) an amount required to recover the average cost of processing an application for the AlaskAdvantage loan program; the executive director shall annually post the amount of the minimum loan award on the commission's web page.
History: Eff. 7/1/2002, Register 162; am 1/30/2003, Register 165
Authority: AS 14.42.030
Editor's note: The Alaska Commission on Postsecondary Education's website is www.AlaskAdvantage.state.ak.us
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.
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Last modified 7/05/2006