20 AAC 15.755. Loan forbearance

(a) A request for forbearance of an ASEL will be considered under 20 AAC 15.966.

(b) Repealed 12/31/2005.

(d) An administrative forbearance may be provided if the commission is advised to do so under 34 C.F.R. 682.211(i). The commission may notify the borrower in advance of an administrative forbearance, and will notify the borrower as soon as feasible afterwards.

(e) Forbearance to a borrower or endorser, if applicable, will be granted if the governor notifies the commission that the geographical area in which the borrower or endorser resides or is employed has been designated a disaster area. Notification of the forbearance and the date that payments must resume will be given to the borrower and endorser, if applicable.

(f) A borrower's first payment due date following a period of forbearance must be within 45 days after the date that the forbearance expires.

History: Eff. 7/1/2002, Register 162; am 12/31/2005, Register 176

Authority: AS 14.42.030

AS 14.43.171

AS 14.43.175

Editor's note: 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.

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.