Sec. 14.42.205. Supplemental education loans: financing program.

186 words·~1 min read·/ak/title-14/chapter-42/14-42-205·

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(a)The purpose of this section is to provide for supplemental education loan financing to assist qualified borrowers with unmet costs of attendance at a postsecondary institution approved by the commission.

(b)The corporation may develop and establish a financing program for the Alaska supplemental education loan administered by the commission under AS 14.43.170 — 14.43.175.

(c)The financing program established under

(b)of this section

(1)shall

(A)provide that loans under the Alaska supplemental education loan program are medium-range and long-range fixed-rate and variable-rate loans;

(B)require terms and conditions for loans under the Alaska supplemental education loan program as the corporation determines are useful and feasible;

(C)be designed to

(i)assist postsecondary institutions in this state in attracting and retaining students;

(ii)maximize the amount of financing available by using private activity tax-exempt bond capacity as may be allocated by the state; and

(2)except as limited by (1)(B) of this subsection, may provide for terms and conditions that are more attractive than prevailing terms and conditions available to students from other supplemental education lenders.