Section 20 AAC 14.220 - Eligible loans(a) Loans eligible for refinancing under 20 AAC 14.200 - 20 AAC 14.240 must be qualified education loans and may include (1) Stafford, PLUS, or federal consolidation loans;(2) qualified education loans made by private or state lenders;(3) loans made under AS 14.43.091-14.43.160, 14.43.170- 14.43.175, 14.43.600 - 14.43.700, or 14.43.710-14.43.750; and(4) loans made under 20 AAC 14.200 - 20 AAC 14.240, when a new loan is being incorporated into an existing refinancing loan.(b) The commission may include in a refinancing loan a loan that is not a qualified education loan if the refinancing loan is not funded from tax-exempt bond proceeds.(c) A loan eligible for refinancing under 20 AAC 14.200 - 20 AAC 14.240 must (1) be in grace or repayment status;(2) if in repayment status, be current in repayment; and(3) be for a student who was a resident of this state at the time the underlying loan was originated, if a family member of the student borrowed the loan on behalf of the student.Eff. 7/31/2016, Register 219, October 2016Authority:AS 14.42.150
AS 14.42.200
AS 14.43.122