(a) The corporation shall set the interest rate on a loan financed by the corporation under AS 14.43.091 - 14.43.160, 14.43.170 - 14.43.175, 14.43.710 - 14.43.750, and AS 14.44.040. Interest on a loan accrues from the time the loan is disbursed.
(b) A borrower may elect to make payments of interest that accrues during the borrower's term of attendance at the postsecondary institution or during authorized deferment periods; however, any unpaid interest shall be capitalized as part of the principal to be repaid as agreed, or upon graduation, withdrawal, or completion of the deferment period.
Structure Alaska Statutes
Title 14. Education, Libraries, and Museums
Chapter 42. Postsecondary Education Commission and Loan Corporation
Article 2. Alaska Student Loan Corporation.
Sec. 14.42.100. Creation of Alaska Student Loan Corporation.
Sec. 14.42.120. Corporation governing body.
Sec. 14.42.130. Meetings of the board.
Sec. 14.42.140. Minutes of meetings.
Sec. 14.42.150. Administration of affairs.
Sec. 14.42.160. Executive officer.
Sec. 14.42.200. General powers.
Sec. 14.42.205. Supplemental education loans: financing program.
Sec. 14.42.210. Education loan fund and program administration.
Sec. 14.42.220. Bonds of the corporation.
Sec. 14.42.230. Trust indentures and trust agreements.
Sec. 14.42.240. Reserves and capital reserves.
Sec. 14.42.250. Validity of pledge.
Sec. 14.42.260. Nonliability on bonds.
Sec. 14.42.270. Pledge and agreement of state.
Sec. 14.42.280. Exemption from taxation.
Sec. 14.42.290. Bonds legal investments for fiduciaries.
Sec. 14.42.295. Payment to state.