To qualify for an Alaska Supplemental Education Loan you must:
complete the FAFSA, if required by your institution
- have a high school diploma or equivalent (i.e., GED)
- be enrolled at minimum half-time in an eligible program
- not be delinquent or have ever defaulted on a prior student loan or be past due in child support obligations
- have a credit history that includes a FICO credit score of 680 or higher, or have a cosigner who meets the 680 FICO requirement
- be an Alaska resident or be attending an eligible school in Alaska
Borrowers must meet all other eligibility requirements, as stated under 20 AAC 15.705.
The Loan Application Process
- Complete the ASEL application/promissory note packet. You'll get funds faster if you apply online, where you can complete your credit check instantly if you choose. If you don't have a qualifying FICO score, you may add a credit-worthy cosigner while your online
- If the application is approved, ACPE will send you a loan application disclosure (LAD) that you'll need to accept. The quickest way to accept the loan is to logon to your acpe.alaska.gov account and complete the process electronically.
- Your loan funds will be sent to your school based on the school's scheduled financial aid disbursement dates, but no sooner than 10 business days after you accept the LAD.
Apply online now to receive an immediate response to your credit check. You can also download and submit a paper application or request an application by contacting Customer Service.