Section 20.15.935. Computation of authorized loan awards.

	(a)  A loan award is based upon allowable expenses as computed by the enrolling institution and approved by the commission. The loan award for a student enrolled for less than a full school year is prorated 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.  
	(d)  For students enrolled less than full-time, allowable costs of attendance are  
		(1) tuition and required fees; and  
		(2) required books, supplies, and equipment.  
	(e)  For loans made under AS 14.43.170 - 14.43.175 (Alaska supplemental education loan program) or AS 14.43.710 - 14.43.750 (Alaska family education loan program), the maximum annual loan award to a borrower for   
		(1) an eligible undergraduate student is  
			(A) $14,000 for on-time enrollment;  
			(B) $12,500 for full-time enrollment;  
			(C) $7,500 for half-time enrollment;  
		(2) an eligible graduate student is  
			(A) $15,000 for full-time enrollment;  
			(B) $7,500 for half-time enrollment; and  
		(3) an eligible student attending a career education program, the duration of which is at least 180 hours over a period of not less than six weeks, and that culminates in a terminal certificate designed to lead to employment, is $10,000.  

Authorities

14.43.105;14.43.110;14.43.120;14.43.173;14.43.320;14.43.630;14.43.640;14.43.740

Notes

Reference

20 AAC 15.537
20 AAC 15.735

Authority

AS 14.43.105 AS 14.43.110 AS 14.43.120 AS 14.43.173 AS 14.43.320 AS 14.43.630 AS 14.43.640 AS 14.43.740

History

Eff. 3/22/97, Register 141; am 4/20/2000, Register 154; am 2/22/2015, Register 213