The minimum monthly payment is at least $50.00 and is based on the amount of your debt, interest rate and the allowable repayment period (how long you have to repay the debt). When a loan is awarded, you will be presented with a Loan Approval Disclosure that provides an estimated payment. There are no prepayment penalties if you choose to pay more than the required amount.
The Alaska Refinance Loan has a minimum monthly payment of at least $100.00 but is based on the amount to repay the loan within the repayment period. Payments can be as much as $500.00 or greater depending on the total amount borrowed.
FinAid.org offers a variety of financial tools to help you manage your college expenses and education loans. Specifically, there is a loan payment calculator that calculates estimated monthly payment.
If you are having trouble making payments on your student loans, the Alaska Commission on Postsecondary Education (ACPE) may be able to help. Read more about repayment assistance on our Loan Repayment page.
Don't wait until your account becomes delinquent or defaults. If you are unable to make a payment, contact ACPE as soon as possible to discuss options that could adjust your repayment schedule and lower, or even postpone, your monthly payments.
Student deferments are available on Alaska Education Loans based on qualifying enrollment. Less than full-time enrollment may not defer full-time or on-time loans awarded after July 1, 2015. Be sure to notify ACPE any time your enrollment status changes. If you default, you are no longer eligible for deferments.
Student deferments are not available for the Alaska Refinance Loan and the Family Education Loan.
Visit the loan repayment page for more information.