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(a) An applicant for an AlaskAdvantage education grant must
(1) meet the requirements of AS 14.43.415 (a);
(2) be a resident of this state as described in AS 14.43.162 (b);
(3) have under $8,000 in cumulative awarded AlaskAdvantage grant money;
(4) have unmet financial need of at least $500 after consideration of all other non-loan sources of financial aid; and
(5) comply with the requirements for participation in the Leveraging Educational Assistance Partnership (LEAP) program as set out in 34 C.F.R. 692, including
(A) being a United States citizen or permanent resident alien;
(B) being admitted and intend to enroll in an undergraduate degree or vocational certificate program at a qualifying institution;
(C) having satisfied refund requirements associated with prior Title IV assistance;
(D) having executed a statement of educational purpose;
(E) having eamed a high school diploma or a general educational development (GED) diploma;
(F) not having a baccalaureate degree; and
(G) meeting satisfactory academic progress requirements, if a continuing student, according to the standards set by the institution of attendance.
(b) The commission will notify, in writing, an applicant whose FAFSA results in a valid ISIR that documents the applicant meets residency and financial need requirements for potential eligibility.
(c) Notwithstanding the eligibility of an applicant, grant money may not be awarded to the applicant for a
(1) remedial or preparatory program;
(2) program leading to a private pilot license; or
(3) program of study conducted outside of this state, unless the program is a formal exchange program available as part of a degree program at an institution in this state that is eligible under 20 AC 16.021.
History: Eff. 6/13/80, Register 74; am 11/27/86, Register 100; am 2/20/2005, Register 173
Authority: AS 14.43.405
Editor's note: As of Register 172 (January 2005), and acting under AS 44.62.125 (b)(6), the regulations attorney made technical changes to reflect the name change of the Alaska state educational incentive grant program to the AlaskAdvantage education grant program made by secs. 18, 19, 21 and 28, ch. 63, SLA 2004.
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Last modified 7/05/2006