Loan Application Process

How early do I need to apply for AlaskAdvantage loans?

You should apply for an Alaska state loan after your school's financial aid office has determined your unmet financial need. Once your loan is approved you must formally accept the Loan Approval Disclosure (LAD) by logging on to your ACPE on-Line account.  Acceptance of the LAD will schedule your loan disbursements.  This process allows you a 10-day right to cancel period, so we recommend that you allow a minimum of three weeks for the loan approval and disbursement process. With approval from your school, we will process your application even if it comes in after your school term begins, as long as your academic period has not ended.

How do I apply for an Alaska state education loan?

Apply for Alaska state education loans by completing a loan application with the Alaska Commission on Postsecondary Education (ACPE). To keep borrowing costs as low as possible, always apply for the federal Direct Stafford Loan before you apply for any Alaska State Education Loans. Included in the Alaska Student Loan application is the Private Education Loan Applicant Self-Certification form which informs students to contact their Financial Aid office to determine the estimated cost of attendance and financial assistance available to help students keep borrowing cost low.


In some cases, your school may allow you to apply for an Alaska state loan without completing the FAFSA. ACPE strongly recommends you complete the FAFSA to get the best possible financial aid package. To complete an Alaska state loan application, you have the following options:

What are the requirements for a reference on a loan application?

It is best if your first reference is a relative that does not live with you. A reference should be someone you stay in contact with, and would be able to verify your contact information if necessary.

What is a promissory note and how does it work?

A promissory note is the contract between you and the lender. By signing it you agree to the terms and conditions under which you are borrowing.

When will my loans be disbursed?

After you accept the loan application disclosure, your loan funds will be sent directly to the school's financial aid office, based on their scheduled financial aid disbursement dates. Be sure to work with the school's financial aid office to ensure all school financial aid steps are completed.

How long does it take for a loan application to be processed?

There are many factors that contribute to the length of time an application will take to process through the system. The loan application process can take two or more weeks. The application tracker on your online account If you are unable to view the application tracker on your account home page on ACPE’s web site, your application may have already been processed.

If your application has been approved you can view the status of your loan through the “My Account” feature on ACPE’s web site. Select “View My Account” to view loan status information.