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If an installment on a loan under the Education Loan Program (20 AAC 15.010 - 20 AAC 15.085) , the Teacher Education Loan Program (20 AAC 15.200 - 20 AAC 15.295) , or the Family Education Loan Program (20 AAC 15.510 - 20 AAC 15.590) is 30 days or more past due on the loan's payment schedule, the commission may require the loan borrower to pay a late fee of up to $15 for each such installment. If a deferment of payment on the loan is approved under 20 AAC 15.965, the commission may waive the late fee. This section applies to a loan that the corporation has purchased or participated in the purchase under AS 14.42.200 .
History: Eff. 11/4/94, Register 132; am 4/24/98, Register 146
Authority: AS 14.42.150
Editor's note: As of Register 160 (January 2002), the regulations attorney made technical revisions under AS 44.62.125 (b)(6), and in accordance with ch. 85, sec. 45, SLA 2001, to change "Scholarship loan" to "Education loan" in 20 AAC 15.810.
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Last modified 7/05/2006