All college-bound students face financial challenges when planning for their higher education. For residents of Alaska, the Alaska Commission on Post Secondary Education offers detailed information on federal and state loan programs designed to help college-bound students pay for college. The ACPSE also provides much needed information on private and supplementary loans, as well as state sponsored loan forgiveness programs for students pursuing careers in critical need professions.
The ACPSE administers the complete range of federal student loan programs. They also administer the primary AlaskAdvantage Loan for resident students. College-bound students who are current residents of the state of Alaska, as well as their parents, should consult the ACPSE website for details on all financial aid programs that may be available to them. Interested students must fill out and submit the Free Application for Federal Student Aid, or FAFSA, in order to be considered for any state sponsored, or federally guaranteed, loans.
Education loans available through the ACPSE include:
Students receiving federal education loans may find themselves left with a fair amount of unmet need. As helpful as the federal programs are, the rising costs of higher education typically leave students searching for supplementary loans to help bridge any gaps left in their college funding. Alaska works with a number of authorized lenders to provide it's resident students with lost cost alternatives to private lender student loans. These state sponsored education loans are designed to act as a supplement to federal student loan programs.
Loans currently being offered through the state of Alaska's Commission of Post-Secondary Education include:
Two state-sponsored student loans are unique to Alaska: unlike many states, Alaska directly supports two student loan programs specifically designed for it's resident students. These loans are unique to Alaska, and are only available to qualifying students enrolled in a state college or university.
Alaska, like many states, is faced with a shortage of qualified professional teachers. In order to redress this problem, the government of Alaska sponsors a loan forgiveness program that is designed to reward students pursuing a degree in education. The Alaska Teacher Education Loan Program offers loan forgiveness for education students who agree to take positions as teachers in typically under-served communities. Eligible students may receive up $7500 annually in loan forgiveness.
Alaska offers it's resident students many options when it comes to finding the much needed funds to pay for college. In addition to the substantial loan programs being offered, the ACPSE also provides information on grants and scholarship that are open to all of Alaska's resident students. Visit the Alaska Commission on Post Secondary Education for more details on all of the programs available to Alaska's students.