* Your fixed rate will be determined based on credit score. Borrower or cosigner must have an absence of adverse credit to qualify.

Education Loan Refinance

Alaska Refinance Loan 

Your state's student loan debt solution – available exclusively to Alaska residents.







5 Yr TERM 10 Yr TERM 15 Yr TERM
4.60% 680-719* 4.80% 680-719* 5.00% 680-719*
3.80%  720-779 4.00% 720-779 4.20% 720-779
3.55% 780+ 3.75% 780+ 3.95% 780+



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Lower Your Costs – Simplify your Education Loans

  • A low, fixed interest rate
  • No fees & no prepayment penalties
  • Repayment terms of 5, 10, or 15 years - YOU choose!
  • Consolidate federal, private, and state education loans from any qualified lender
  • Option to exclude federal loans, which may have benefits you don't want to lose

Created by Alaskans, for Alaskans

  • No hidden costs or qualification criteria
  • Just one monthly bill for all your education loans
  • Instant credit decision
  • 24/7 online account access

ACPE Repayment Calculator

Calculate Repayment

How To Apply

  1. Apply online (or fill out a paper application)
  2. Add a cosigner if you don't have a qualifying credit score, or if you want to try to get a lower interest rate
  3. Sign your loan documents online (fastest!) or mail them to ACPE
  4. Provide payoff information for the loans you're refinancing
  5. Accept the terms set out in your loan disclosure
  6. You're done!

Accepting Your Award

Once your Refi application is approved, we'll send you a Loan Application Disclosure (LAD). You must accept the disclosure before we can finalize the refinancing process. The quickest way to accept your loan terms is electronically, through your ACPE online account.



After you accept your LAD, ACPE will pay off your loans with your lender(s). You'll be notified when the payment is sent. Please continue making payments with your current lender until you can verify they've received ACPE's pay off check.



You may qualify even if you did not finish your degree program.

  • Be an Alaska resident (primary borrower only)
  • Have at least $7,500 in qualifying education loan(s), in good standing
  • Have a minimum FICO credit score of 680 or higher, or a cosigner who meets the FICO score requirement


Interest Rate, APR, and Fees

The Alaska Refinancing Loan has a fixed interest rate that ranges between 3.55% (3.55% APR) and 5.00% (5.00% APR). Your interest rate is based on your credit history or your cosigner's credit history, if applicable. You will be notified of the interest rate you qualify for when your loan is approved. For more about how we determine your rate, go to https://acpe.alaska.gov/myrate.

What is APR?

APR stands for the Annual Percentage Rate and is the yearly cost of borrowing your loan, shown as a percent of the amount you borrowed.


There are no origination fees or prepayment penalties.

Credit Requirements

To qualify for the Alaska Refinancing Loan, you must have a FICO score of at least 680, or an eligible cosigner. Your interest rate is based on your credit history or your cosigner's credit history, if you plan to apply with one.

Visit our Understanding Credit page to learn more about FICO scores, credit reports, and establishing good credit.


Consider a Cosigner

If you do not meet the credit requirements or you would like to try for a better interest rate, you may want to consider adding a cosigner. The online application process gives you the opportunity to send an instant request to a potential cosigner. If you elect to add a cosigner, that person will be responsible for the loan even in the event you meet the credit conditions independently. 

What is a Cosigner?

A cosigner assumes responsibility for the loan if the borrower should fail to repay the loan. A cosigner has an independent responsibility to repay the debt and to notify ACPE in the event of changes affecting the loan. ACPE can collect from the cosigner without first having to collect from the primary borrower.

ACPE will notify the cosigner of delinquency in repayment or any changes in the loan terms that increases the amount due on the loan.



You may choose to have a repayment term of 5, 10, or 15 years. If you initially choose a shorter repayment term, you will have the option to extend your term in qualifying situations. A repayment schedule will be established 60 days after your loan is finalized. Your monthly payment amount will be based on your total debt and term length, subject to a minimum payment of $100.00 a month. Monthly payments can be $500 or more, depending on the total amount you refinance.


Choosing Wisely

Even though refinancing offers many advantages, be sure you understand what you may be giving up – a lower payment may not be worth the loss of certain benefits afforded to federal Direct and/or Stafford loans or, the Alaska WWAMI Biomedical Program loans, or those offered by other lenders.

  • Read your promissory notes carefully, and don't be afraid to ask questions if there is something you don’t understand.
  • Although you may save money with a lower interest rate or extended term, benefits associated with the underlying loans don’t carry over when you refinance. Examples include forgiveness, deferments, and income-based repayment plans available on some federal loans, or ACPE's 48-On Time Payment cost reduction or auto-pay benefit.
  • If you have loans with interest rates below 5.00%, refinancing may not lower your costs. Be sure to check the rates on your existing loans before refinancing.