The Alaska Presence benefit is a cost reduction for qualifying borrowers who attend a postsecondary institution in Alaska, or who reside in Alaska while repaying their loans and are current in repayment. This benefit does not reduce your loan interest rate, but is applied as an annual credit to your account, effectively reducing your cost of borrowing from ACPE.
The Online Auto-pay benefit is a cost reduction for borrowers current in repayment who use ACPE's online automatic payment method. This benefit is an interest rate reduction and will reduce the note rate of your qualifying loan(s).
1The Alaska Student Loan Corporation(ASLC) Board sets the rates for ASEL and FEL loans.
2The Alaska Commission on Postsecondary Education (ACPE) sets the interest rate on PSEP Loans.
3The variable rate ASEL loans are no longer originated, but the remaining outstanding loans are eligible for borrower benefits as indicated.
4The Alternative Consolidation Loan interest rate is set in accordance with 20 AAC 15.860.
5The Health Care and Education Reconciliation Act of 2010 ended the authority for state, nonprofit, and private lenders to make new federal loans after June 30, 2010. ACPE will continue servicing existing federal loans and the remaining outstanding loans are eligible for borrower benefits as indicated.