An Act relating to financial aid received for medical education and financial aid received by students participating in the Western Interstate Commission on Higher Education Professional Student Exchange Program; relating to the Western Regional Higher Education Compact; and providing for an effective date.

House Bill 27 will allow post-secondary students to gain affordable access to desired professional programs. Alaska utilizes Western Interstate Commission on Higher Education (WICHE) to take advantage of the reduced tuition (limited to1.5 times the resident rate compared with up to 5 times the resident rate) and class spots which are restricted without our participation in WICHE. Our current budget situation does not allow Alaska to make grants, as we did prior to 1997. This amends statute to allow state student loan monies to be loaned thorough WICHE and repaid to the student loan fund.

The Western Interstate Commission on Higher Education was created to facilitate resource sharing and cost effective services for 15 Western states and their public and private collages and universities. This bill will allow Alaska to renew our participation in the WICHE Professional Student Exchange program. The state can make this change allowing for loans and provide a significant benefit to students.