(a) As a condition of eligibility for receiving financial support from the state under the Professional Student Exchange Program of the Western Interstate Commission on Higher Education, a program participant shall agree to repay to the state the support provided by the state on behalf of that person, plus interest.
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Terms Used In Alaska Statutes 14.44.040

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(b) A repayment under this section shall be paid into the education loan fund created under Alaska Stat. § 14.42.210.
(c) If a program participant defaults on the repayment obligation, the provisions of Alaska Stat. § 14.43.145 – 14.43.155 apply to collect on the obligation as if it were a defaulted loan under Alaska Stat. Chapter 14.43.
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