The commission staff shall process applications and distribute available loan proceeds based on the order in which the applications are received, except that in a year that financing is insufficient and not available to fully finance loan demand, priority will be given to residents of this state attending institutions in this state. Each year, a person requesting a loan for that school year must file an application on a form obtained from the commission.

(Eff. 2/28/90, Register 113; am 3/24/94, Register 130; am 3/22/97, Register 141; am 4/20/2000, Register 154; am 2/27/2010, Register 193)

Authority: AS 14.42.030, AS 14.43.740