SENATE BILL NO. 59                                                      
              "An Act authorizing the Alaska Commission on                     
                   Postsecondary     Education    to     adopt                 
  regulations necessary                to determine and set an                 
  interest rate applicable to a               student loan for                 
  which money is disbursed on  or after                July 1,                 
  1995, and regulations  necessary to implement                                
  certain loan  default sanctions and consolidation of                         
       loan provisions  beginning July 1, 1995;  and providing                 
              for an effective date."