► 2018-2019 Rate Discounts: 0.25% Auto-Pay and 0.50% In-State (Alaska) School
Interest rate discounts are available to borrowers who use their loan to study in Alaska, and to borrowers who enroll in automatic online payments. Rate discounts are built in for the life of the loan as long as conditions are met. Borrowers who are delinquent or default on their loans may forfeit the online Auto-Pay discount.
Alaska School Discount: A reduced interest rate available only to borrowers who use their loan to study at an Alaska institution, and built in for the life of the loan.
Auto-Pay Discount: You may be eligible to receive a 0.25% interest rate reduction on your loan by authorizing ACPE to automatically deduct qualifying loan payments from a checking or savings account during the in-school, grace, and repayment periods. The reduction will remain in effect as long as qualifying automatic payments continue without interruption.
To qualify for the Auto-Pay discount, set-up recurring payments that meet the following conditions:
- In-school/Grace/Deferment/Forbearance Period - Payments made during the in-school, deferment and forbearance periods must be a minimum of $50.00 per loan.
- Repayment Period – Your loan must be current in repayment, and payments must be a minimum of $5.00.