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In 20 AAC 15.100 - 20 AAC 15.170, unless the context requires otherwise,
(1) "guarantor" means a state or private nonprofit organization that has an agreement with the secretary to administer a loan guarantee program under 20 U.S.C. 1001 - 1155 (Higher Education Act of 1965);
(2) "insurance premium" means the fee charged by the guarantor for each loan that the guarantor guarantees;
(3) "master promissory note" means a single-year or multi-year promissory note by which a student borrower promises to repay loan money;
(4) "PLUS loan" means a loan provided under 20 U.S.C. 1078-2;
(5) "Stafford loan" means a loan authorized under 20 U.S.C. 1071 - 1078;
(6) "subsidized Stafford loan" means a Stafford loan with an interest offset that, under 20 U.S.C. 1078(a), the United States government pays on the borrower's behalf to the commission;
(7) "unsubsidized Stafford loan" means a Stafford loan provided under 20 U.S.C. 1078-8 without an interest subsidy.
History: Eff. 7/1/2002, Register 162
Authority: AS 14.42.030
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Last modified 7/05/2006