ACPE is overseen by a fourteen-member body established by law, representing educational bodies and the general public. Guided by the Commission, the Executive Director and staff develop and implement programs and policies to increase access to the benefits of higher education.
ASLC, a public corporation and enterprise instrumentality of the State of Alaska, funds the Commission's programs through tax-exempt bond sales. It has a legal existence independent of the State. The Corporation is governed by a Board of Directors.
The administrative staff of the Commission serve as the staff of the Corporation. They carry out ASLC activities through the delegated authority of the ASLC Executive Officer, who is also the Executive Director of ACPE.