The Alaska Student Loan Corporation (ASLC) was created under laws of the State of Alaska and codified at Alaska Statutes 14.42.100 through 14.42.990, as amended (Act). ASLC is a public corporation and government instrumentality within the Department of Education and Early Development with a legal existence independent of and separate from the State of Alaska. Its primary purpose is to finance state education loans. A combination of proceeds generated from the issuance of bonds and loan repayments fund its education loan programs.
ASLC is governed by a Board of Directors, appointed by the Governor. The supervision of the administration of ASLC activities is delegated to the Executive Officer, who is also the Executive Director of the Alaska Commission on Postsecondary Education. The board's primary responsibilities are to:
- authorize and oversee investments
- fund the State of Alaska's education loan programs
- set investment policies, loan fees, interest rates, and program benefits
ASLC meetings are open to the general public. Meeting dates, time, and location are called by the Chair as necessary to conduct business. Meetings are announced through public notices.