Student Loans for Students in Alaska
A large percentage of college students these days are having to supplement their income with student loans in order to meet the rising costs of education in an economy where the rise in wages, especially for those without a college degree, are non-existent.
This influx for the need of student loans has been a big burden for many students, and has sadly even ended the educational journey for some students.
For Alaska college students, there are some unique opportunities for school funding that can help Alaska college students avoid having to prematurely end their educational goals.
Here are just some of the Alaska student loans available to students who are from Alaska and who plan to attend college within the border of Alaska.
- Federal Loans: These are not loans just for Alaska college students, but they are available to Alaska college students just like they are to everyone else. These federal student loans include Stafford Loans, Perkins Loans, PLUS loans, and the grants offered through the FAFSA application. Anyone looking for Alaska student loans should also apply for all of these student loan programs.
- The Alaska Commission on Postsecondary Education, or the ACPE: This is a program that provides low cost loans to students attending college within Alaska. The idea of the program is to promote the college campuses in Alaska and to keep their money and their talent in the local sphere. The interest rates and payment plans are reasonable and are created to work with what they know college students can handle. There is more information on these loans at this site.
- The Alaska Supplemental Educational Loan: These loans are a lot like the Perkins loans in that they are not meant to pay an entire tuition, but are meant to fill in the gaps left by other sources of tuition funding. This Alaska student loan won’t cover all your costs, but it can be a big blessing. In order to apply and qualify for this Alaska student loan, you must be a current resident of Alaska, so make sure you have proof of residency ready when applying.
- Career Specific Exchange Program Loans: This is a very unique program in Alaska that you won’t find in every state. The idea is to recruit students to get their education in certain needed fields in Alaska. In return for a low cost Alaska student loan, students will be required to work for a certain contracted amount of time within the state of Alaska. If you are planning to work and live in Alaska after your graduation for at least two years, then this is the perfect Alaska student loan program to apply for.
- The Alternative Consolidation Loan: This is a loan program sponsored by the ACPE that is meant to help Alaska college students consolidate their student loans into one lump loan and help them pay it down. The ACPE knows that while their residents are wrapped up in student loan debt, they will not be as able to contribute to the local and state economy. They have tried to ease this burden on the student, and by extension, their state, by providing this very safe and manageable consolidation program.