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.  

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