The Alaska Commission on Postsecondary Education (ACPE) provides low-cost AlaskAdvantage education loans to Alaska residents and to students attending eligible postsecondary institutions in Alaska. ACPE offers different loan programs with AlaskAdvantage borrower benefits, including the Alaska Supplemental Education Loan (ASEL), Family Education Loan (FEL) and career-specific loans.

Alaska education loan programs are available for full- or half-time students. Some Alaska programs have credit eligibility requirements, but options are available to applicants who do not meet the credit criteria.

How Much Can I Borrow?

• Annual loan maximums vary depending on the loan program. For the ASEL, undergraduate students may borrow a maximum of $8,500 per academic year.  Graduate students are eligible for up to $9,500 per academic year, and vocational students may borrow up to $6,500 per certificate program. Family members may borrow up to $8,500 from the FEL program to support an undergraduate student, $9,500 for a graduate student and $6,500 for a student in a vocational program.

Interest Rates, Origination Fees and Borrower Benefits

• Interest rates and borrower benefits, available during in-school and repayment periods, may vary annually.  AlaskAdvantage borrower benefits are available to reduce the costs of the loans for qualifying borrowers. For the most current information, visit AKAdvantage.alaska.gov. 
• Alternative loans (ASEL and FEL) have a 5 percent origination fee, taken out at the time of disbursement.  

How to Apply

• The fastest way to apply is online at AKAdvantage.alaska.gov.  The online application includes electronic signature and real-time credit check options for borrowers and cosigners.  You also may contact ACPE by calling (800) 441-2962 or (907) 465.2962 (M-F, 8:30 a.m. – 4:30 p.m., Alaska time), or by sending an e-mail to customerservice@alaska.gov.  The mailing address is: Alaska Commission on Postsecondary Education, P.O. Box 110505, Juneau, AK, 99811-0505.