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(a) A loan award is based upon computation of allowable expenses under AS 14.43.120 (a). The authorized loan award for a student enrolled for less than a full school year, as defined by the enrolling institution and as approved by the commission, is determined by computing allowable expenses and prorating the authorized loan award based upon the actual period of attendance.
(b) The minimum authorized loan award for an applicant is $500 for a school year.
(c) Loan awards are made subject to funding availability.
History: Eff. 3/22/97, Register 141; am 4/20/2000, Register 154
Authority: AS 14.43.105
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Last modified 7/05/2006