20 AAC 15.785 - Default rate reduction requirements for institutions
Current through April 6, 2022
(a) Except for an institution that is
authorized to participate in federal student aid programs under
20 U.S.C.
1070-
1099d
(Title IV of the Higher Education Act of 1965), an institution with a default
rate calculated under
20
AAC 15.925 in excess of 20 percent shall develop and
submit a default reduction plan acceptable to the commission not later than 45
days after the date of the default rate determination.
(b) An institution that fails to comply with
(a) of this section is ineligible to receive proceeds of new student loans
until the required default reduction plan is submitted and determined by the
commission to be reasonably expected to effect the necessary default
reduction.
Notes
Authority: AS 14.42.030
AS 14.43.171
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