Understanding Your Interest Rate

There are no surprises when it comes to how your loan’s interest rate is calculated. ACPE is committed to being transparent about interest rates, credit scores, and available discounts.


Loan Interest Rates for the 2023-2024 Academic Year +


Student Loan

 (Alaska Supplemental Education Loan)

Alaska students’ low-cost option to use in-state, out-of-state, or for college or career training.

Credit Score **** Base Rate Auto-Pay Discount Lowest Possible Rate ++
720+ 6.25% (5.94% APR) -0.25% 6.00% (5.71% APR) **
680-719 7.00% (6.61% APR) -0.25% 6.75% (6.40% APR)
650-679 9.25% (8.59% APR) -0.25% 9.00% (8.37% APR)



Family Loan


(Family Education Loan)

A low-cost option for Alaska families, helping to cover educational costs on behalf of their student.

Credit Score **** Base Rate Auto-Pay Discount Lowest Possible Rate ++
Absence of adverse credit 7.00% (7.00% APR) -0.25% 6.75% (6.75% APR)




(Alaska Refinance Loan)

Available to Alaska residents, prior ACPE borrowers or cosigners, or former graduates of an Alaska high school or postsecondary institution in Alaska.

REFI Fixed Rate







6.10% 680-719 6.30% 680-719 6.50% 680-719
5.30%  720-779 5.50% 720-779 5.70% 720-779
5.05% 780+ 5.25% 780+ 5.45% 780+




For information about variable rate loans disbursed before 2006, borrower benefits, and prior year interest rates, Click Here.

+ All state loan rate ranges are established annually at the lowest rate possible. State loans are funded through the Alaska Student Loan Corporation, which issues tax-advantaged bonds to offer lower rates, and more accessible credit criteria. State loans are not supported by the State of Alaska's general funds.

+ The Annual Percentage Rate (APR) is the yearly cost of borrowing money, shown as a percent of the amount you borrowed. The APR is calculated based on the interest that will be charged over the life of the loan, the principal balance at origination, and the repayment schedule, assuming that all payments will be made on time.

++ You may be eligible to receive a 0.25% interest rate reduction on your loan by authorizing American Education Services (AES) to automatically deduct qualifying loan payments from a checking or savings account during the in-school and repayment periods. The reduction will remain in effect as long as qualifying automatic payments continue without interruption. Participating in Auto-Pay will reduce the finance charges, resulting in a lower total cost of borrowing. To qualify, payments made during non-repayment periods such as the in-school, grace, deferment, and forbearance periods, must be a minimum of $50.00 per loan. Payments made during the repayment period must be a minimum of $5.00 and all loans must be current in repayment.

** The lowest possible rate of 5.71% APR is based on a sample loan of $10,000, disbursed in two equal installments, with 120 monthly payments of $138.07. This rate requires participation in AES’s Direct Debit program. The APR may increase after consummation based on individual repayment behaviors.

*** All Refi rates are set at the lowest possible rate. Additional discounts for Auto-Pay are not available.

**** ACPE uses a FICO score, provided by Factual Data or TransUnion to determine credit eligibility. A FICO score is a proprietary credit score, developed by Fair Isaac Company (FICO). FICO scores typically range from 300-850, the higher the score the better. Learn more about FICO scores: https://www.myfico.com/credit-education/