(a) The corporation may offer a borrower who has received more than one education loan the option of consolidating the multiple loans into a single loan as provided in this section.
(b) For a borrower to be eligible for consolidation of a loan under this section, the borrower must apply on a form approved by the corporation and must
(1) physically reside in the state and have maintained a domicile in the state for not less than 12 consecutive months before submitting an application for consolidation;
(2) be a previous borrower, cosigner, or beneficiary of an education loan made under AS 14.43 or AS 14.44; or
(3) be a graduate of a high school or postsecondary institution physically located in the state.
(c) In this section, “education loan” means a loan to finance the cost of attendance at a postsecondary institution in or outside the state.
Structure Alaska Statutes
Title 14. Education, Libraries, and Museums
Chapter 43. Financial Aid Programs for Postsecondary Students
Article 4. Education Loan Program.
Sec. 14.43.091. Education loan program.
Sec. 14.43.105. Administration of program.
Sec. 14.43.110. Education loans.
Sec. 14.43.120. Conditions of loans.
Sec. 14.43.122. Consolidation of loans.
Sec. 14.43.125. Eligibility of students.
Sec. 14.43.135. Discrimination prohibited.
Sec. 14.43.140. Enforceability of certain contracts with minors.
Sec. 14.43.147. Order to withhold and deliver.
Sec. 14.43.150. Order to assign wages for defaulted loan.
Sec. 14.43.153. Hearings in administrative action to establish a collection order; burden of proof.
Sec. 14.43.154. Collection orders as judgments.