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Family Education Loan (FEL)

6.75% - 7.00% APR (6.75% - 7.00%)



 


The Alaska Family Education Loan is a low-cost option for families to help cover education costs. The decision to pursue postsecondary education often involves various family members. With our Family Education Loan, family members may be eligible to borrow on behalf of a student:

  • Spouse
  • Parent
  • Step-Parent
  • Foster Parent
  • Grandparent

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Eligibility

  • Borrower and student must be Alaska residents
  • Student must be enrolled at least full-time
  • Borrower credit history does not demonstrate a chronic inability or unwillingness to pay an extension of credit
  • Meet all other requirements under AS 14.43.172 and 20 AAC 15.705
 

Loan Limits

Program
Annual
Aggregate
Undergraduate Full-time* enrollment - up to $24,000
 $96,000
Graduate Full-time* enrollment - up to $24,000
 $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. Family members 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.
 

* Rates are for the 2023-2024 academic year. Learn more about how we determine your interest rate – unlike for-profit lenders, we tell you exactly what criteria we will use

See prior rates here

 

Before you take out the Family 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 Family Education Loan application will be processed by CampusDoor. By clicking “APPLY NOW” above 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.