Supplemental (Student) Education Loan

Rates starting at 4.73% APR

4.73% – 9.23% APR (5.00% – 10.00%)

A low-cost education loan option for Alaskan students to use for postsecondary education in Alaska, out-of-state, or for career training programs. Students can choose from two payment options:

  • Full Deferment – No payments while enrolled in school and during the grace period
  • Immediate Repayment – Make low, fixed monthly payments per loan while enrolled in school and during the grace period

For more information, check out Choosing Your Repayment Type below. 

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Save % with ACPE Loans Rates starting at 4.73% APR

Your Next Steps 

Prepare Your Information

To complete the application for the ASEL, you will need the following information.

  • Social Security Number (SSN)
  • School information
  • Financial aid information, such as your cost of attendance
  • Two references with whom you expect to remain in contact
  • Name and email of your cosigner (if you plan to apply with one)

Choose Your Repayment Type

During the loan application process, you may be asked to select your repayment type. Qualifying applicants can choose full deferment or immediate repayment while enrolled in school at least half-time. Refer to the Understanding Repayment Options in the Understanding Your Loan section of this page.

  • Full Deferment – Make no payments while enrolled in school and during the grace period
  • Immediate Repayment – Make low fixed monthly payments while enrolled in school and during the grace period

Start Your ASEL Application Today  

Understanding Your Loan 

Eligibility, Interest Rates, & Loan Limits

Eligibility

  • Be an Alaska resident, or attend an eligible Alaska school
  • Have a FICO credit score of at least 640 and an absence of adverse credit, or apply with an eligible cosigner
  • Be enrolled at least half-time
  • All other requirements can be found here

Interest Rates

The ASEL has a fixed interest rate for both the in-school and repayment periods. This means once your rate is set, it remains the same throughout the life of your loan. Unlike other private lenders, there are no origination or prepayment fees on the ASEL. The interest rates for the 2025/2026 academic year range from 5.00% to 10.00%.

Learn more about how we determine your interest rate – unlike for-profit lenders, we tell you exactly what criteria we will use.

See prior academic rates here

Loan Limits

ACPE encourages borrowers to make sound financial decisions when it comes to taking out a student loan. For additional information and guidance in making this selection, please review our Before You Borrow guide.

Program
Annual
Aggregate
Undergraduate Full-time* enrollment - up to $24,000
Half-time enrollment - up to $12,000 		$96,000
Graduate Full-time* enrollment - up to $24,000
Half-time enrollment - up to $12,000 		$96,000
Career Training Full-time* enrollment - up to $24,000
 $96,000


Note: You may receive up to $96,000 for combined undergraduate, graduate and career training programs. Students who have borrowed up to the cumulative maximum may receive additional loans if the current total principal balance owed, including the new loan amount, does not exceed the cumulative maximum.

Cumulative maximums include any prior ACPE loans paid-in-full and outstanding Alaska Supplemental Education Loans, Family Education Loans, Memorial Education Loans and Teacher Education Loans.


*An undergraduate student enrolled in a minimum of 12 semester credit hours or equivalent per academic term. A graduate student enrolled in a minimum of 9 semester credit hours or equivalent per academic term. A student enrolled in a Career & Technical Education (CTE) program of at least 30 clock hours per week for a minimum of 6 weeks. For flight school, students must log a minimum of 17 hours per month or 51 hours for a three-month period.

Understanding Repayment Options

Qualifying applicants can choose full deferment or immediate repayment while enrolled in school at least half-time. Applying with a creditworthy cosigner may qualify you for a lower interest rate, which can reduce your monthly payment amount and total interest over the life of the loan. Review our Loan Application FAQs for more information.

Repayment Type
Description
Benefits
Considerations
Immediate Repayment (Flat Payment)

Applicants approved for a 2024-2025 ASEL make low fixed monthly payments of $50 per loan while enrolled in school and during the grace period.

Applicants approved for a 2025-2026 ASEL make low fixed monthly payments of $20 per loan while enrolled in school and during the grace period.

In-school payments begin upon first disbursement. Regular principal and interest payments will be due after you leave school or drop below half-time

  • 2024-2025 ASEL applicants with a FICO score of at least 650 can choose their repayment type
  • Has a lower interest rate
  • Save money on interest
  • Pay your loan off faster
  • Reduce your overall cost of borrowing
  • 2025-2026 ASEL borrowers must have a FICO score of at least 680 or have a qualifying cosigner to choose their repayment type. Borrowers with a FICO score between 640-679, without a qualifying cosigner, will automatically be assigned the immediate repayment plan
  • No deferment or reduced payment plans are available during the in-school and grace periods
  • Failure to make the required monthly payments can result in negative consequences including default and transfer to a collection agency
Full Deferment

Make no payments while enrolled in school.

Regular principal and interest payments will be due approximately six months after you leave school or drop below half-time

  • 2024-2025 ASEL applicants with a FICO score of at least 650 can choose their repayment type
  • No payments required while enrolled in school and during grace
  • 2025-2026 ASEL borrowers must have a FICO score of at least 680 or have a qualifying cosigner to choose the full deferment repayment type. Borrowers with a FICO score between 640-679, without a qualifying cosigner will automatically be assigned the immediate repayment plan
  • Has a higher interest rate
  • Interest will accrue and unpaid interest will be added to your principal balance when you enter repayment, increasing the cost of your loan

ACPE Loans - What You Need to Know

Before you take out the Alaska Supplemental Education Loan, there is important loan information you should know. At ACPE, we've put this together in one spot for you to review: ACPE Loans - What You Need to Know


Your Alaska Supplemental Education Loan application will be processed by CampusDoor. By clicking “Start Your FEL Application Today” you will be redirected to CampusDoor to complete your loan application. If you need assistance or have questions about your application, you may contact CampusDoor 8:00 a.m. to 5:00 p.m. AKST by calling (855) 210-8183 or email answers@campusdoor.com.

Prepare Your Information

Gather your SSN, School Info, Cost of Attendance, & cosigner (if needed)

Review Repayment Options

Consider Immediate versus Deferred repayment options

Submit Your Application

Complete your education loan application online

Follow-Up

Check your email for any communications about your application