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Borrower Benefits

Loans that were awarded prior to July 1, 2018 may be eligible for certain benefits to help reduce student loan costs. These benefits are applied as quarterly or annual account credits, or interest rate reductions. Borrower benefits are subject to approval by the Alaska Student Loan Corporation (ASLC) and are made available as long as the ASLC has the financial capacity to do so.

Benefits are not guaranteed. Borrowers who do not maintain a current repayment status may forfeit some or all benefits.


Alaska Presence Benefit

The Alaska presence benefit is a cost reduction for qualifying borrowers who attend an Alaska school or who live in Alaska while they repay their loans. This benefit does not reduce your loan(s) interest rate, but is applied as an annual credit to your account, equal to 1% of the outstanding principal balance of your loan(s), which will effectively reduce your cost of borrowing from ACPE. This benefit is not available for Alaska Refinancing Loans.

The Alaska Presence benefit is available to qualifying borrowers who took out the following loan types prior to July 1, 2018:

  • Alaska Supplemental Education Loan
  • Alaska Alternative Consolidation Loan
  • WICHE PSEP Loan

Online Auto-Pay Discount

ACPE's Online Auto-Pay discount is a cost reduction for borrower's that use ACPE's online recurring payment method. This benefit is an interest rate reduction that will reduce the note rate of your qualifying loan(s), equal to 0.25%. This reduction is not available for Alaska Refinancing Loans.

To receive the discount, you must authorize ACPE to automatically deduct qualifying loan payments from a checking or savings account during the in-school, grace and repayment periods. The interest rate reduction will remain in effect as long as qualifying automatic payments continue without interruption and other conditions are met.

Qualifying Conditions

To qualify for the Auto-Pay discount, set up recurring payments that meet the following conditions:

  • In-school/Grace/Deferment/Forbearance Period – Payments made during the in-school, deferment and forbearance periods must be a minimum of $50.00 per loan.
  • Repayment Period – Your loan must be current in repayment, and payments must be a minimum of $5.00.

ACPE's Online Auto-Pay discount is available to qualifying borrowers and cosigners who took out the following loan types:

  • Alaska Supplemental Education Loan
  • Alaska Student Loans
  • Alaska Family Education Loan
  • Alaska Teacher Education Loan
  • Alaska Alternative Consolidation Loan
  • WICHE PSEP Loan
  • AlaskAdvantage Stafford Loan (sub/unsub)
  • Federal PLUS Loan
  • Federal Consolidated Loan

48 On-time Benefit

The 48 on-time payment benefit is available to borrowers who took out qualifying loans between 2007 and 2010. A borrower is eligible for the benefit if the first 48 consecutive monthly payments have been made on time (payments were never more than 15 days past due). This benefit does not reduce your loan(s) interest rate, but is applied as a quarterly credit to your account up to 0.50% of the outstanding principal balance of your loan(s), which will effectively reduce your cost of borrowing from ACPE. The benefit amount varies depending on the loan type.

ACPE's 48 On-time Benefit is available to qualifying borrowers who took out the following loan types between 2007 and 2010:

  • Alaska Supplemental Education Loan – Quarterly benefit amount equal to 0.50%
  • Alaska Alternative Consolidation Loan – Quarterly benefit amount equal to 0.25%
  • WICHE PSEP Loan – Quarterly benefit amount equal to 0.25%
  • AlaskAdvantage Stafford Loan (sub/unsub) – Quarterly benefit amount equal to 0.50%
  • Federal PLUS Loan – Quarterly benefit amount equal to 0.25%
  • Federal Consolidated Loan – Quarterly benefit amount equal to 0.25%