Alaska Student Loans And Financial Aid Programs

There are several Alaska student loans and financial aid programs that can help you pay for college. If you're going to be attending college in Alaska, you need to be looking to take advantage of these programs.

These programs are designed to help make college more affordable - so that you can get the education you need. These programs can include scholarships, grants, and student loans.

Don't forget that there are Federal student loan programs available as well. You can find out more on how to get a Federal student loan here.

There is also a specific order of operations to pay for college that we recommend students follow. These programs specific to the State of Alaska can help you to avoid borrowing more money than you need to. 

Alaska Student Loan Programs

Alaska has a program called the Alaska Supplemental Education Loan which offers great rates and perks if you're an Alaska resident. The loan offers low fixed rates, and no payments while you're at least a half time student. You can learn more here: Alaska Commission on Postsecondary Education.

Right now, you can borrow up to $96,000 in aggregate loans. 

There loans are currently offering 5.37% - 9.09% APR on a fixed rate. This is current as of July 28, 2024.

However, there are limits to how much you can borrow and they might not be the best rates (which might be why you're here).  

If you're just looking for private student loan options, we recommend shopping and comparing your options. Here are a couple places to start:

• Credible - Like the Kayak of student loans, they help you shop around and compare options. Try Credible here.
• College Ave - One of the best private student loan lenders. Get A Quote At College Ave Here.

Check out our complete guide to finding the best student loans here.

Alaska Scholarship Programs

Alaska has a merit based scholarship program that you might be able to benefit from. Plus, the University of Alaska also offers their own scholarships.

Alaska Performance Scholarship

The Alaska Performance Scholarship is a merit based scholarship that will give you up to $7,000 per year, for up to 4 years (or 8 semesters) - and must be fully used within 6 years.

To qualify, you must be an Alaska resident who graduate from an Alaska high school (public, private, or home school), in 2011 or later and meet the qualifying requirements are eligible for an APS award.

Learn more about the Alaska Performance Scholarship here.

Other Alaska Scholarships

These scholarships aren't offered by the State of Alaska, but are open to qualifying Alaska residents:

• Alaska Space Grant Program
• The CIRI Foundation
• The Koniag Education Foundation (for Koniag Shareholders and Enrolled Descendants) 

Alaska Grant Programs

Alaska also has a grant program to provide need based financial aid to Alaska residents.

Grants are one of the best forms of financial aid because, in most circumstances, you don't have to pay the money back.

Alaska Education Grant

The Alaska Education Grant awards typically range from $500 to $4,000 per academic year for students who have qualifying unmet financial need.

Students with the highest financial need will be awarded in order of need until funds are exhausted. Students enrolled in 15 credits per semester may be eligible for an increased award amount. A student may not receive more than a total of $16,000 in AEG award money over the course of their education.

You can learn more about the Alaska Education Grant here.

Other Options

If you already have student loans and are looking for options as a Alaska resident, check out our Alaska Student Loan Forgiveness Program page. That page has all the different options available to Alaska residents to potentially get some of your student loan debt forgiven.

You might also look at refinancing your student loans and saving money in interest while also potentially lowering your payment. Check out our guide on the Best Places To Refinance Your Student Loans.

If you're looking for ways to save for college in Alaska, check out our Alaska 529 Plan and College Savings Guide.

Finally, check out the other student loan and financial aid programs by state.