Section 20.15.785. Default rate reduction requirements for institutions other than FFELP eligible schools.

Latest version.

	(a)  Except for a FFELP eligible school, an institution with a default rate calculated under 20 AAC 15.925 in excess of 20 percent shall develop and submit a default reduction plan acceptable to the commission within 45 days after the date of the default rate determination.  
	(b)  An institution that fails to comply with (a) of this section is ineligible to receive proceeds of new student loans until the required default reduction plan is submitted and determined by the commission to be reasonably expected to effect the necessary default reduction.

Authorities

14.42.030;14.43.171

Notes

Authority
 AS 14.42.030  
AS 14.43.171  
History Eff. 7/1/2002, Register 162

                    
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