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AlaskAdvantage Benefit
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What Is It?
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Who Gets It?
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How Much Is It?
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Alaska Presence Benefit
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An annual cost reduction for qualifying borrowers who attend an Alaska school or who live in Alaska while they are repaying their loans
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Fixed rate AlaskAdvantage Unsubsidized Stafford, ASEL, PLUS, and Federal Consolidation borrowers attending a school physically located in Alaska
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Fixed rate AlaskAdvantage Unsubsidized Stafford, ASEL, PLUS, Federal Consolidation and PSEP borrowers who reside in Alaska after they finish school and enter repayment
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An annual cost reduction from .50% to 1.20% depending on your loan type. See details
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Direct Payment Benefit
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A cost reduction for participating in qualifying automated payment methods
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Borrowers who use ACPE’s Web Pay or payroll deduction programs while their loans are in repayment
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An interest rate reduction of .25%
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Timely Payment Benefit
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A cost reduction for borrowers in repayment who have made their first 48 consecutive on-time payments
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Borrowers in repayment who have made their first 48 consecutive on-time payments
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From 1% to 2%, depending on your loan type See Details...
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Origination Fee Paid
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No origination fees on qualifying loans
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All AlaskAdvantage Stafford borrowers
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Origination fee of .5% fully subsidized.
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| Default Fee Paid |
No default fee on qualifying loans. |
All AlaskAdvantage Stafford and PLUS Loan borrowers
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Default fee of 1% fully subsidized |
