Repayment Assistance

Repayment Assistance

If you are having trouble making payments on your student loans, the Alaska Commission on Postsecondary Education (ACPE) may be able to help. ACPE offers repayment options tailored to your needs.

Don't wait until your account becomes delinquent or in default.If you are unable to make a payment, contact ACPE as soon as possible to discuss options that could adjust your repayment schedule and lower, or even postpone your monthly payments.

ACPE services both federal and state loans. Many of our customers have borrowed from each program to finance education expenses. It is important, when considering repayment options, to review your account and review the terms of loans you have borrowed.

Repayment Plans

When your loan goes into repayment, you are in the standard repayment plan. This plan offers the lowest finance charges over the life of the loan. Plans to lower your monthly payment may be available if you meet eligibility criteria. Read more about repayment plans.

Deferment

Deferments allow you to temporarily postpone payment of loans for a qualified reason. The most common deferment reasons include returning to school at least half-time, and unemployment. Deferments are not automatic. You must apply and be approved for deferments. Read more about deferment.

Forbearance

Forbearance is a temporary suspension of loan payments. Forbearance is an option that may be available to students in special circumstances, who are financially unable to make student loan payments, but are not eligible for a deferment. For example, forbearance may be available for students in a post-graduate training program or who experience severe financial difficulties. Read more about forbearance.

Avoiding Delinquency and Default

Carefully read the terms of your promissory note to know your obligations and options:

  • Read and respond to any correspondence you receive from ACPE. 
  • Notify ACPE if you change your address or telephone number.
  • Notify ACPE if you return or leave school.
  • Contact ACPE if you can't make your scheduled monthly payment. There may be payment options available.

 

Loan Tip

When you place your loan in deferment or forbearance, interest generally continues to accrue. At the end of a deferment or forbearance period, accrued interest capitalizes.

If you use such options to postpone payments for a significant amount of time, your loan balance can increase substantially.