AK HB159

Amends AS 14.43.510(a) to require medical education program participants to repay the total amount of state financial support provided to their postsecondary institution, rather than only 50 percent of that amount.

Sets the interest rate at the 12th Federal Reserve District discount rate in effect on March 1 of the year support is provided, plus two percentage points.

Interest begins accruing when the participant terminates studies and is added to the principal balance when repayment commences and at the end of any deferment period.

Applies only to participants who enter into repayment agreements on or after January 1, 2021.