You have some new options for state education loans this year! 

Depending on the loan that’s right for you, you may see:

A new range of rate options
Lower credit score requirements
Rate discounts for attendance in Alaska - guaranteed for the life of the loan
Rate discounts for auto-pay - guaranteed for the life of the loan
Optional in-school payments to lock in rate discounts early and lower your overall costs

What you’ll continue to get from us:

No fees & no prepayment penalties
Instant credit check & transparent credit criteria
Serviced in Alaska by Alaskans


The 2018-2019 student and family loan application becomes available in May 2018. Sign up to be notified as soon as the application is online.

Refinance your student loan(s) visit  acpe.alaska.gov/refi


Alaska Supplemental Education Loan (ASEL)

ASEL is a low-cost option to use in-state or out-of-state, for college or career training.

NEW! Rate discount for studying in Alaska.
Plus, further rate discounts for making optional payments while in school.  

4.93% – 7.93% APR*

(5.15% – 8.50% fixed rate*) 

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An option for family to help cover education costs. The following family members can take out a FEL on behalf of the student:
  • Spouse
  • Parent
  • Step-parent
  • Foster Parent
  • Grandparent


6.65% – 6.90% APR*

(6.65% – 6.90% fixed rate*) 

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* Rates are for the 2018-2019 academic year. Learn more about how we determine your interest rate – unlike other lenders, we tell you exactly what criteria we will use.


Visit acpe.alaska.gov/Loans for current (2017-2018) loan information.

Don't Pay More with Private Lenders

According to LendEDU.com, students who borrow with national private lenders have a significantly higher average interest rate than Alaskan students who borrow through ACPE. The difference could save you thousands over the life of your loan. 

9.66% average private lender fixed rate

– vs –

6.69% average ACPE fixed rate

Be aware of advertising for rates that only people with a top-tier credit score can qualify for – and don’t accept a higher rate just because you've already completed the leg work to fill out the application. Make sure to do your research and find the best rate for you.  

Variable vs Fixed Rate

According to LendEDU.com

94% of students borrowing from private lenders select variable rate loans

– likely because the variable rate offered by the lender is lower than the fixed rate the same lender can offer.

But variable rates change over time, especially in the current environment of rising rates! You risk having your costs rise over the life of your loan - potentially costing you thousands of dollars.

And - as an Alaskan - you have access to fixed rates that are lower than other lenders’ variable rates, through ACPE.

7.81% average private lender variable rate