AS 14.44.040: Repayment condition for program participants.

(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.

(b) A repayment under this section shall be paid into the education loan fund created under AS 14.42.210.

(c) If a program participant defaults on the repayment obligation, the provisions of AS 14.43.145 — 14.43.155 apply to collect on the obligation as if it were a defaulted loan under AS 14.43.