Governor Palin 4 President

Anchorage, AK – The Federal Emergency Management Agency has approved Governor Palin’s total request for additional communities to receive disaster relief funds for the spring flooding event.

The original federal disaster declaration did not include Individual Assistance for several communities as the flood event was ongoing at the time of the federal disaster declaration. Federal Individual Assistance pays a maximum of $30,300 per affected household, whereas State of Alaska Individual Assistance pays $5,000 per affected household.

“This is great news for the members of the communities in rural Alaska that were left off of the original disaster declaration,” The Governor said. “This year’s spring flood was one of the worst on record, and we need to act swiftly to make sure people can rebuild before winter.”

Disaster recovery teams, consisting of members of the Alaska Division of Homeland Security and Emergency Management, and FEMA, are out in Bethel and the surrounding villages today. More trips are planned next week to help those people who have experienced flood damages get the necessary paperwork completed to expedite funding assistance.

The formal regions, and key communities that Governor Palin promised additional aid were added onto the federal disaster declaration are:
• Lower Yukon Regional Education Attendance Area (REAA) for Individual Assistance, including Emmonak, Russian Mission, Kotlik, and Alakanuk;
• Yupiit REAA for Individual Assistance (already approved for public assistance), including Akiak, Akiachak, and Tuluksak;
• Lower Yukon REAA for Public Assistance, including Emmonak, Russian Mission, Kotlik, and Alakanuk;
• Yukon-Koyukuk REAA for Public Assistance (already approved for Individual Assistance), including Tanana.

Anchorage, AK - Governor Palin signed legislation that will avert a disruption in new education loans originated by the Alaska Student Loan Corporation (ASLC). The corporation has financed its education loan program by issuing tax-exempt revenue bonds in the capital market. ASLC has been unable to issue bonds due to the catastrophic capital market.

“This bill ensures Alaska’s students will not be left out in the cold despite the current economic downturn,” Governor Palin said. “Without this legislation, no Alaska student loans could be made this fall.”

Senate Bill 172, sponsored by the governor, enables the Commissioner of Revenue to provide a bridge loan and directly invest in the corporation’s education loans. SB 172 also creates a credit enhancement facility to assist ASLC in the issuance of bonds during the current economic crisis when, without this facility, it would be uneconomical to issue bonds.

ASLC’s largest education programs are AlaskAdvantage Stafford Loans and AlaskAdvantage Supplemental Loans. This year, more than 8,100 Alaska students relied on one or both of these low-cost education loan programs to aid in financing their postsecondary education and training program.