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Code · Alaska · Title 14 · Chapter 42

Sec. 14.42.215. Interest.

99 words·~1 min read·/ak/title-14/chapter-42/14-42-215·

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Sec. 14.42.215. Interest.
(a)The corporation shall set the interest rate on a loan financed by the corporation under AS 14.43.091 — 14.43.160, 14.43.170 — 14.43.175, 14.43.710 — 14.43.750, and AS 14.44.040 . Interest on a loan accrues from the time the loan is disbursed.
(b)A borrower may elect to make payments of interest that accrues during the borrower's term of attendance at the postsecondary institution or during authorized deferment periods; however, any unpaid interest shall be capitalized as part of the principal to be repaid as agreed, or upon graduation, withdrawal, or completion of the deferment period.
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