Section 14.43.630 - Administration(a) The teacher education loan program shall be administered by the commission in accordance with regulations adopted by the commission. The commission shall (1) allocate the loan awards available for teacher education loans annually to local school boards giving a preference to rural school districts; and(2) develop and distribute to the local school boards an application form for teacher education loans; the form must include a requirement that the applicant supply a high school academic transcript and a statement of intent to enter a teaching career at the elementary or secondary school level in the state.(b) The local school boards shall select the recipients of the teacher education loans according to the criteria in AS 14.43.650.