Section 20 AAC 15.170 - DefinitionsIn 20 AAC 15.100 - 20 AAC 15.170, unless the context requires otherwise,
(1) "guarantor" means a state or private nonprofit organization that has an agreement with the secretary to administer a loan guarantee program under 20 U.S.C. 1001 - 1155 (Higher Education Act of 1965);(2) "insurance premium" means the fee charged by the guarantor for each loan that the guarantor guarantees;(3) "master promissory note" means a single-year or multi-year promissory note by which a student borrower promises to repay loan money;(4) "PLUS loan" means a loan provided under 20 U.S.C. 1078-2;(6) "subsidized Stafford loan" means a Stafford loan with an interest offset that, under 20 U.S.C. 1078(a), the United States government pays on the borrower's behalf to the commission;(7) "unsubsidized Stafford loan" means a Stafford loan provided under 20 U.S.C. 1078-8 without an interest subsidy;(8) "graduate or professional student" means a student who, for a period of enrollment, (A) is enrolled in a program or course above the baccalaureate level or is enrolled in a program leading to a professional degree;(B) has completed the equivalent of at least three years of full-time study, either before entrance into the program or as part of the program itself; and(C) is not receiving aid under 20 U.S.C. 1070 - 1100 (Title IV) as an undergraduate student for the same period of enrollment.Eff. 7/1/2002, Register 162; am 6/7/2007, Register 182; am 7/12/2008, Register 187; am 11/16/2012, Register 204