Section 20 AAC 15.088 - Applicant eligibility(a) An applicant for an AlaskAdvantage federal consolidation loan must(1) satisfy the residency criteria of AS 14.43.162;(2) have a minimum of $3,500 of eligible loan debt to be consolidated; and(3) satisfy the eligibility criteria specified in 20 U.S.C. 1078- 20 U.S.C. 3(a)(3), 34 C.F.R. 682.102, and 34 C.F.R. 682.201.(b) For purposes of (a) of this section, a borrower's residency requirement may be considered met if the borrower has an active loan with the commission.(c) An applicant must disclose on the combined application and promissory note the existence of a defaulted loan.Eff. 4/2/2004, Register 169; am 6/7/2007, Register 182; am 10/18/2007, Register 184As of Register 172 (January 2005), and acting under AS 44.62.125(b)(6) and sec. 34, ch. 63, SLA 2004, the regulations attorney made technical changes to reflect the name change of the Alaska advantage loan program to the AlaskAdvantage loan program made by secs. 10, 13, and 28, ch. 63, SLA 2004.
Authority:AS 14.42.030
AS 14.43.162
AS 14.43.163
AS 14.43.164