Alaska Stat. § 14.43.173 – Loan award maximums; use of loan award

(a) In a school year, the corporation may finance a loan under AS 14.43.170 — 14.43.175 in a maximum amount to be determined by the corporation to an eligible
1. (1) undergraduate student attending an eligible college or university;
2. (2) graduate student attending an eligible college or university; and
3. (3) student attending an eligible career education program.
(b) The corporation may finance loans made under AS 14.43.170 — 14.43.175 to an eligible borrower in a maximum total amount to be determined by the corporation for
1. (1) an undergraduate study program;
2. (2) a graduate study program; and
3. (3) a combined undergraduate and graduate study program.
(c) To maintain a loan award under AS 14.43.170 — 14.43.175, the borrower must continue to be in good standing as determined by the institution and approved by the commission.
(d) The commission shall determine a borrower's loan award amount for a specific school year, which may not exceed the limits established by the corporation or the borrower's costs of attendance.