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ACPE is partnering with CampusDoor and American Education Services (AES) to provide Alaskans with new education loan application processing and servicing for all your student and family education loan needs.

CampusDoor delivers innovative education finance solutions, systems and origination processing to a variety of lenders including state agencies, national and regional banks, credit unions, schools and school endowment funds, enabling them to help their customers pay for college or refinance existing education debt.

Transferring loan application processing and servicing of our education loans will result in cost reductions and savings for ACPE. These cost savings allow ACPE to offer education loans to students and parents with the lowest interest rates possible.

Beginning April 18, 2022, CampusDoor will process all new education loan applications offered by ACPE. For more information on how to apply, review the FAQs under LOAN APPLICATION PROCESS.

The Alaska Student Loan Corporation (ASLC) finances the loans offered through ACPE. This means that although your loans are funded by ASLC, CampusDoor will process your loan application and be your contact for any questions regarding the application process.

For questions or assistance with your loan application, please contact CampusDoor’s customer service center using the following information:

Correspondence: CampusDoor
210 York Street, Suite 200
York, PA 17403
Phone Number: Customer Service: 855-210-8183 or 717-254-2379
Monday – Friday, 8:00 a.m. to 5:00 p.m. AKST
Email: answers@campusdoor.com

CampusDoor customer service representatives are available Monday through Friday, 8:00 a.m. to 5:00 p.m. AKST.

If you have questions regarding the loan application process, you can contact CampusDoor’s dedicated team of experts who can assist you through the application process. CampusDoor customer service representatives are available Monday through Friday, 8:00 a.m. to 5:00 p.m. AKST.

Once your application is processed and disbursed by CampusDoor, your loan will be transferred to AES for servicing.

AES will send you a welcome letter that will include your account number and other important information about your account.

AES is a national student loan servicer, with more than 50 years of experience helping borrowers manage and pay off their student loans. AES is a national leader in providing quality customer service to millions of student loan borrowers. AES will provide ACPE borrowers with the following options:

  • Robust online and mobile customer account
  • One-time and recurring payment options;
  • Paperless billing;
  • Convenient, flexible options to make it easy to pay back your student loan; and
  • Tools and resources so you can stay up-to-date and knowledgeable about the world of student loans.

Once your new loans have been transferred to AES, you may contact them using the following information:

Correspondence: American Education Services
P.O. Box 2461
Harrisburg, PA 17105-2461
Payments: American Education Services
P.O. Box 65093
Baltimore, MD 21264-5093
Phone Number: Customer Service: 800-233-0557
Monday – Friday, 3:30 a.m. to 5:00 p.m. AKST
Website: aesSuccess.org

AES’ customer service representatives are available Monday through Friday, 3:30 a.m. – 5:00 p.m. AKST.

Once your new loan is disbursed by CampusDoor and has been transferred to AES, you will be able to manage your loan anytime by accessing your online account at aesSuccess.org.

With AES’ online account access you can get an at-a-glance view of your account including the ability to view loan details, schedule a payment and update your address and telephone information. In addition, you will have access to tools and resources so you can stay up-to-date and knowledgeable about the world of student loans.

ACPE will continue to service your existing education loans; however, new education loans processed by CampusDoor beginning April 18, 2022, will be transferred to AES for servicing.

If you have an existing education loan with ACPE, you will continue to have access to your ACPE online account. For education loans originated on or after April 18, 2022, you will need to contact AES. Please contact AES toll-free 1-800-233-0557 Monday through Friday, 7:30 AM - 9:00 PM EST, which is 3:30 AM – 5:00 PM AKST.

Loan Application Process

A good rule of thumb is to apply as soon as you receive your school's financial aid award letter, showing you'll need a source of funds to pay costs not covered by grants, scholarships, or federal aid.

To keep borrowing costs as low as possible, always exhaust all federal and free aid before taking out an education loan. ACPE strongly recommends you complete the FAFSA (Free Application for Federal Student Aid) to maximize your financial aid package.

You can take out a no-fee ACPE education loan to cover the remaining cost of attendance expenses not met by grants, scholarships, or federal aid. Start by submitting your ACPE loan application and receive an instant credit decision!

A promissory note is the contract between you and the lender. By signing it you agree to the terms and conditions under which you are borrowing.

Disbursements are scheduled based on your school’s designated disbursement dates for each term of enrollment. Disbursements will be sent directly to your school’s financial aid office prior to the start date of the enrollment period.

If you are applying for an Alaska Education Refinance Loan, funds are sent directly to your lenders to pay off the underlying loans you included in your refinancing loan application.

There are many factors that contribute to your application’s processing time. In general, it can take 1-2 weeks to complete. Your school must certify your enrollment and costs of attendance as part of the application process. Most schools complete this within 3-5 business days; however, there may be delays depending on the time of year and when you submit your application.

Helpful Links

 

Loan Eligibility

In order to receive funding from ACPE, schools must be either:

  • An institution that is eligible to receive Title IV aid, such as Pell Grants or Direct Loans (as determined by the U.S. Dept. of Education)
  • An institution that has been approved by the Alaska Commission on Postsecondary Education to participate in ACPE loan programs.

It is important to know that some schools, such as community colleges, may be Title IV eligible, but may not elect to receive loans from non-federal lenders. Please check with your school's financial aid office verify that they accept non-federal loans before submitting your application to ACPE. For a list of Alaska schools that have been approved to participate in ACPE loan programs, visit https://acpe.alaska.gov/Alaska-Postsecondary-Institutions.


No. As long as you're an Alaska resident, you can qualify for an Alaska Education Loan for attendance at a qualifying institution outside the state.

You should know that if you do attend an Alaska school, you'll receive an interest rate discount.

If you are applying for an Alaska Supplemental Education Loan and are attending a participating school physically located in Alaska, you do not need to be an Alaska resident.

If you plan to attend a school outside of Alaska, and use the Alaska Supplemental Education Loan, you must be a resident of Alaska.

If you are applying for an Alaska Refinance Loan or Family Education Loan, you must be a resident of Alaska. Cosigners for an Alaska Refinance Loan are not required to be a resident of Alaska.

A credit score is a number derived from information in your national credit bureau file, it represents the likelihood that you will be able to repay a loan as required. A credit score does not consider employment or income. Your credit score is based on your previous repayment history, the relationship between available credit and your repayment obligations.

ACPE uses a FICO score, Factual Data. A FICO score is a proprietary credit score, developed by Fair Isaac Company (FICO). FICO scores range from 300-850, the higher the score the better. Read more about credit scores by visiting the Understanding Credit page.

If you don't have a credit history, you can apply with a cosigner who meets the credit history requirement.

A cosigner on a loan assumes responsibility for the loan if the borrower should fail to repay the loan. A cosigner has an independent responsibility to repay the loan and to notify ACPE in the event of changes affecting the cosigner or the student borrower.

ACPE may notify the cosigner of delinquency in repayment, deferments granted, or any repayment agreement that increases the amount due on the loan. You may elect to provide an endorser/cosigner to ensure your application is found to be creditworthy. If you elect to provide an endorser/cosigner in support of your loan request, that person will continue to be a responsible party for the loan even in the event you meet the credit conditions independently.

Amounts vary by enrollment status and degree/certificate program.

For Undergraduate programs:

  • 15+ credits/semester (on-time enrollment) or the equivalent – up to $14,000/year.
  • 12-14 credits/semester (full-time enrollment) or the equivalent – up to $12,500/year.
  • 6-11 credits/semester (half-time enrollment) or the equivalent – up to $7,500/year

For Graduate programs:

  • 9+ credits/semester (full-time enrollment) or the equivalent – up to $15,000/year
  • 6-8 credits/semester (half-time enrollment) – up to $7,500/year.

For Career/Technical Education programs:

  • Non-flight programs – up to $10,000 (Programs must be at least 180 hours over a period of not less than six weeks and result in a certificate.)
  • Flight school programs - up to $10,000 (Not for private pilot programs. Programs must log a minimum of 17 hours/month or 51 hours over a three-month period and result in a certificate.)

For Alaska Refinance Loan

  • There is not a maximum amount you can borrower under the Alaska Refinance Loan.

Note: Students can only borrow the amount needed to cover outstanding costs of attendance, as certified by your school. In addition, there are lifetime borrowing maximums, in the Loan Limits section of our website.



Loan Repayment FAQs

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.
 

Avoiding Default

Default results if you fail to make a series of scheduled minimum monthly payments on your loan account. Negative consequences of default may begin when a loan becomes 180 days past due. Default and delinquency cause long-term damage to your credit record.

If you default on your loan, any or all of the following may happen:

  • The entire loan balance (principal and interest) becomes immediately due and payable
  • You will lose your deferment options
  • Your loan(s) status will be reported to national credit bureaus, including delinquency and default
  • Your Alaska Permanent Fund Dividend (PFD) may be garnished and applied to your loan(s)
  • Your wages may be garnished to repay your loan(s)
  • You may lose eligibility to obtain educational aid in the future
  • Your school may withhold copies of your transcripts
  • Your account may be referred to the loan guarantor for additional collection action, which may include income tax garnishment, being sued for the balance of your loan and other collection type activities.
  • Your account may be referred to a collection agency and you may be charged collection fees

Don't wait until your account becomes delinquent or in default. 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.

  • Read the terms of your promissory note carefully to know your obligations and options
  • Track your loans online
  • Read and respond to any correspondence you receive from ACPE
  • Notify ACPE if you change your address or phone number
  • Notify ACPE if you leave or return to school
  • Contact us immediately if you are unable to make your scheduled monthly payment
  • Learn about and use the deferment, forbearance or repayment plans available to you
  • Ask questions.  The more you learn about your student loans, the more successful you will be in repayment.

call toll free 800-441-2962
or in Juneau 907-465-2962
ACPE@alaska.gov