Reminder: Additional COVID-19 Relief Options for Alaska Student Loan Borrowers
In this unprecedented environment, one of the primary concerns for the Alaska Commission on Postsecondary Education is ensuring meaningful relief is available for state student loan borrowers impacted as a result of the COVID-19 pandemic. To mitigate adverse economic impacts, the Commission has implemented a number of strategies to support borrowers:
- Deployment of a disaster forbearance available to all our borrowers. This forbearance allows borrowers to suspend their payments for three months, and the Commission is prepared to extend this three-month period if needed. Individuals that need this forbearance can email us at ACPE@alaska.gov or call us toll free at 1 (800) 441-2962 or, if in Juneau, call (907) 465-2962 to request it; we are waving requirements for signatures and documentation to allow requests to be processed as quickly as possible.
- Suspension of collection activity on loans serviced by the Commission. This suspension includes forbearing from new garnishment activity, and allowing borrowers serviced at a collection agency to request a pause in payment requirements.
Customers currently in forbearance due to the COVID-19 pandemic will automatically receive the 0% effective interest rate. Qualifying customers who request and receive pandemic-related forbearance will automatically receive the 0% interest benefit on a first-come, first-served basis until funds are exhausted. Additional details on how that benefit will be applied to the various loans serviced by the Commission will be available on the Commission website at https://acpesecure.alaska.gov
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