(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) if in repayment status, be current in repayment; and
- (2) 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; am 6/25/2020, Register 234)
Authority: AS 14.42.150, AS 14.42.200, AS 14.43.122