(a) The Education Trust of Alaska is established in the University of Alaska. The purpose of the trust is to secure obligations to participants and beneficiaries under an education savings program operated by the University of Alaska and to provide participants a convenient method of saving for education. The Board of Regents of the University […]
(a) The Alaska advance college tuition savings fund is established as a nonlapsing fund of the University of Alaska. The purpose of the fund is to secure obligations to participants under a postsecondary education savings program operated by the University of Alaska and to enhance the ability of the university to provide (1) higher education […]
(a) Contributions to the fund under the terms of an advance college tuition savings contract may be made by direct cash payments or by contributions from the permanent fund dividend. The Department of Revenue shall (1) prepare the permanent fund dividend application to allow an applicant or a parent, legal guardian, or other authorized representative […]
(a) The Board of Regents of the University of Alaska may contract with a purchaser for the purchase of advance college tuition credits for the payment of tuition and other qualified higher education expenses for a beneficiary of any age to attend a branch of the university or other eligible educational institution to which the […]
(a) An advance college tuition savings contract must set out or include by reference to the plan (1) the name and date of birth of the purchaser and the beneficiary under the contract; (2) the number of advance college tuition credits purchased under the contract; (3) the terms and conditions under which the contract may […]
In AS 14.40.803 – 14.40.817, (1) “advance college tuition savings contract” or “contract” means a contract entered into by the board and a purchaser to provide for the qualified higher education expenses of a beneficiary; (2) “beneficiary” means a designated beneficiary as defined under 26 U.S.C. 529(e)(1) (Internal Revenue Code); (3) “board” means the Board […]
