Sec. 14.43.122. Consolidation of loans.

152 words·~1 min read·/ak/title-14/chapter-43/14-43-122

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)The corporation may offer a borrower who has received more than one education loan the option of consolidating the multiple loans into a single loan as provided in this section.

(b)For a borrower to be eligible for consolidation of a loan under this section, the borrower must apply on a form approved by the corporation and must

(1)physically reside in the state and have maintained a domicile in the state for not less than 12 consecutive months before submitting an application for consolidation;

(2)be a previous borrower, cosigner, or beneficiary of an education loan made under AS 14.43 or AS 14.44 ; or

(3)be a graduate of a high school or postsecondary institution physically located in the state.

(c)In this section, “education loan” means a loan to finance the cost of attendance at a postsecondary institution in or outside the state.