20 AAC 15.795. Definitions

In 20 AAC 15.700 - 20 AAC 15.795, unless the context requires otherwise,

(1) "ASEL" means a loan awarded under AS 14.43.170 - 14.43.175 (Alaska Supplemental Education Loan Program);

(2) "ASELP" means the Alaska supplemental education loan program under AS 14.43.170 - 14.43.175;

(3) "eligible program" means a program of study

(A) at an institution meeting the requirements of 20 AAC 15.922; and

(B) that is designed to culminate in an award of a degree or vocational certificate;

(4) "enrolled on at least a half-time basis" means enrolled as

(A) an undergraduate student, in good standing, in any combination of courses, work experiences, research, or special studies that the institution requires to consider the student as engaged in half-time study and that amount to the equivalent of at least six, but less than 12, undergraduate semester or quarter hours per academic term;

(B) a graduate student, in good standing, in any combination of courses, work experiences, research, or special studies that the institution requires to consider the student as engaged in half-time study and that amounts to the equivalent of at least three, but less than nine, graduate semester or quarter hours per academic term; or

(C) a student, in good standing, in a career education program that meets at least 12 clock hours a week; for purposes of this subparagraph, "enrolled" means enrolled and attending for the specified minimum number of clock hours except for

(i) excused and unexcused absences on record at the institution of attendance that do not exceed 15 percent of the total possible contracted hours elapsed since the beginning of the contracted enrollment period for the course of study; or

(ii) periods of approved leave of absence verified as described in 20 AAC 17.110(b) (10);

(5) "FICO" means Fair, Isaac and Co. Inc., a developer of credit risk scores used by credit grantors in the lending process;

(6) "undergraduate student" means a student who is enrolled at a school in a course of study, at or below baccalaureate level, up to five academic years in length, that leads to a degree certificate.

History: Eff. 7/1/2002, Register 162

Authority: AS 14.42.030

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