Education Loan Refinance

Alaska Refinance Loan 

Your state's student loan debt solution – available exclusively to Alaska residents.

 4.95% APR*

(4.95% fixed rate)* 

* Rates are for the 2017-2018 fiscal year.



New Refinance Rates Starting July 2018!

4.60% – 5.30% APR**

(4.60% – 5.30% fixed rate)** 

** Rates are for the 2018-2019 fiscal year.  Your fixed rate will be determined based on credit score

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Lower Your Costs

  • Just one monthly bill for all your education loans
  • Consolidate federal, private, and state education loans from any qualified lender
  • Option to exclude federal loans, which may have benefits you don't want to lose

Serviced in Alaska by Alaskans

  • No fees & no prepayment penalties
  • A fixed interest rate
  • Repayment terms of 5, 10, or 15 years - YOU choose!
  • No hidden costs or qualification criteria
  • Instant credit decision

ACPE Refi Repayment Calculator

Calculate Repayment

How To Apply

  1. Apply online (or fill out a paper application)
  2. Add a cosigner if you don't have a qualifying credit score
  3. Sign your loan documents online (fastest!) or mail them to ACPE
  4. Provide payoff information for the loans you're refinancing
  5. Accept the terms set out in your loan disclosure
  6. You're done!


You may be able to qualify even if you did not finish your degree program.

  • Be an Alaska resident
  • Have at least $7,500 in qualifying education loan(s), in good standing
  • Have a FICO score of 720 or higher, or a cosigner who meets the FICO score requirement
  • You, or your cosigner, must be employed or have other regular source of income

Accepting Your Award

Once your Refi application is approved, we'll send you a Loan Application Disclosure (LAD). You must accept the disclosure before we can finalize the refinancing process. The quickest way to accept your loan terms is electronically, through your online account.



After you accept your LAD, ACPE will pay off your loans with your lender(s). You'll be notified when the payment is sent. Please continue making payments with your current lender until you can verify they've received ACPE's pay off check.  


Interest Rate, APR, and Fees

The Alaska Refinancing Loan has a fixed interest rate of 4.95% (4.95% APR).


What is APR?

APR stands for the Annual Percentage Rate and is the yearly cost of borrowing your loan, shown as a percent of the amount you borrowed.


Credit Requirements

To qualify for the Alaska Refinancing Loan, you must have a FICO score of at least 720, or an eligible cosigner. The online application process gives you the opportunity to send an instant request to a potential cosigner if you don't have the required FICO score. You must also be employed, or be able to document a regular source of income.   

Visit our Understanding Credit page to learn more about FICO scores, credit reports, and establishing good credit.


Consider a Cosigner

Borrowers who have little or no credit history may have difficulty qualifying for a student loan. ACPE encourages borrowers who do not meet the credit requirements to consider a cosigner for their student loan.


What is a Cosigner?

A cosigner on a loan assumes responsibility for the loan if the borrower should fail to repay the loan. A cosigner has an independent responsibility to repay the loan and to notify ACPE in the event of changes affecting the cosigner or the student borrower.

ACPE may notify the cosigner of delinquency in repayment or any changes in the loan terms that increases the amount due on the loan. You may elect to provide a cosigner to ensure your application is found to be creditworthy. If you elect to provide a cosigner in support of your loan request, that person will continue to be a responsible party for the loan even in the event you meet the credit conditions independently.



Repayment terms are offered in 5-, 10-, or 15-year plans. Your monthly payment amount will be based on your total debt and term length, subject to a minimum payment of $100.00 a month.


Choosing Wisely

Even though refinancing may offer many potential benefits, be sure you understand what you're giving up – even a lower payment may not be worth the loss of certain benefits afforded to federal Direct and/or Stafford loan borrowers.

  • Read your promissory notes carefully, and don't be afraid to ask questions if there is something you do not understand.
  • When you refinance, you give up all benefits associated with the old loans. This may include options such as forgiveness, deferments, and income-based repayment options, available on some federal loans, or ACPE's 48-On Time Payment cost reduction or auto-pay benefit.
  • If you have loans with interest rates below 4.95%, refinancing may not lower your costs, so be sure to check the rates on your existing loans before refinancing.