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Alaska Statutes Title 14. Education, Libraries, and Museums § 14.42.215. Interest

Current as of January 01, 2025 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Alaska Statutes Title 14. Education, Libraries, and Museums § 14.42.215. Interest - last updated January 01, 2025 | https://codes.findlaw.com/ak/title-14-education-libraries-and-museums/ak-st-sect-14-42-215/

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