ACPE introduces three education loan options to support students' financial needs

Alaska's students will soon have enhanced financial support for their education, thanks to the Alaska Commission on Postsecondary Education (ACPE) which offers three primary types of education loans. These include supplemental or student education loans, family education loans, and refinance education loans. The aim is to bridge the financial gap that many students face after applying for scholarships and federal aid.

ACPE's supplemental and family loans are designed for students actively pursuing their education, helping them cover remaining expenses that could otherwise hinder their ability to attend or complete their programs. The refinance loan option allows borrowers to consolidate multiple loans into a single payment, easing their financial burden post-graduation.

Recognizing the significant student loan debt that many face, ACPE has implemented safeguards to prevent over-borrowing. These measures ensure that students have a positive borrowing experience while saving money. Borrowers can save upwards of $15,000 by choosing ACPE loans over private lenders, with current interest rates even lower than federal PLUS loans.

In addition to these primary loans, ACPE also offers specialty loan programs tailored to specific areas of study, further supporting students in their educational pursuits. This initiative reflects a commitment to making higher education more accessible and affordable for Alaskan students, ultimately contributing to their success and the state's future workforce.