Interest Rate and APR
The Winn Brindle has a fixed interest rate of 5% (3.35% APR) in school and in repayment. This means the base interest rate of 5% is not subject to change; however, it may be reduced by Borrower Benefits while in repayment. 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. The APR referenced above is an example and assumes a principal loan amount of $8,500, freshman borrower, and a repayment term of 15 years. Learn more about APR. The interest rate and APR do not factor in any reductions due to borrower benefits. View more loan cost examples.
About Borrower Benefits
Borrower Benefits are applied as quarterly or annual account credits or rate reductions to reduce the borrower-paid loan costs whenever the Alaska Student Loan Corporation (ASLC) has the capacity to do so. Benefits are variable, meaning that a new benefits package may be offered each program year. Borrowers who are delinquent or default on their loans may forfeit some or all benefits. For a complete list of benefits, see our borrower benefits chart.
►2013-2014 Benefits: 0.25% Auto Pay
To qualify for the Winn Brindle, you must have a credit history that documents your ability and willingness to pay an extension of credit or have an eligible cosigner. The online application process gives you the opportunity to send an instant request to a potential cosigner if you don't meet the credit requirements. Visit our Understanding Credit page to learn more about credit reports and establishing good credit.
Accepting Your Award
Once your Winn Brindle is approved, we will send you a loan application disclosure. You must accept the disclosure before the funds can be disbursed to your school. The quickest way to review the disclosure and accept your loan is to complete the process electronically through your online account.
After you accept your loan application disclosure, your Winn Brindle funds will be sent directly to your school's financial aid office, in accordance with their scheduled financial aid disbursement dates.
Repayment begins six months after you stop attending school full time. The standard repayment period is ten years. Your monthly payment will be based on your total debt, subject to a minimum payment of $50.00 a month. Learn more about repayment plans, payment methods, and repayment assistance.
You may be eligible for forgiveness benefits, up to 50% of the loan's principal balance over a five-year period, if after graduation you are employed full-time in a fisheries field related to your degree.
OR download a paper application