(a) The teacher education revolving loan fund is created for the purpose of making education loans to students selected under Alaska Stat. § 14.43.600 – 14.43.700. The fund consists of money or assets appropriated or transferred to the commission for deposit into the fund, money or assets deposited into the fund by the commission, and earnings on investments of money held in the fund.
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Terms Used In Alaska Statutes 14.43.620

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(b)[Repealed, Sec. 45 ch 89 SLA 2014.]
(c) The commission may make a new loan under this section only if sufficient money or assets are available in the fund established under (a) of this section. If no new loans are issued in a fiscal year under this subsection, the commission shall use deposits for the year in the succeeding year.
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