18 AAC 76.035 - Loan subsidy

(a) The department may set out affordability criteria in its priority list process under 18 AAC 76.020, as part of its criteria and procedures for distribution of financial assistance.

(b) The department may provide a subsidy to an applicant in the form of principal forgiveness, according to the criteria and procedures established in the priority list process in 18 AAC 76.020, if the applicant demonstrates that it meets affordability criteria, and if the department has included those criteria in the priority list process.

(c) An applicant seeking principal forgiveness may apply to the department for a loan subsidy at the time it submits its financial assistance application under 18 AAC 76.030, if the department has included affordability criteria in the priority list process.

Notes

18 AAC 76.035

Eff. 9/27/2009, Register 191

Authority:AS 46.03.020

AS 46.03.032