Alaska Commission on Postsecondary Education & Alaska Student Loan Corporation
In 1968, the Alaska Legislature established the State's first scholarship loan program as an inducement to educate its citizenry and to have them utilize that education and training in Alaska. Scholarship loan programs were administered by the department of Education until 1974, when the Alaska Commission on Postsecondary Education was established to coordinate the development of educational programs and regulate postsecondary institutions in the State for the well being of all Alaskans. In 1987, as oil prices and state oil revenues declined, state funding could no longer be assured, and the legislature created the Alaska Student Loan Corporation to raise alternative financing in the form of tax-exempt bonds. The Commission and the Corporation continue to partner their efforts to provide educational benefits to all Alaskans.