Student loans, ASEL,
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Alaska Supplemental Education Loan (ASEL)

5.03% – 7.93% APR (5.25% – 8.50%) 

 

ASEL-web

 

A low-cost loan option for Alaskan students to use for postsecondary education in-state, out-of-state, or for career training program. Rates are for the 2022-2023 academic year.

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Eligibility

  • Be an Alaska resident, or attend an eligible Alaska school
  • Have a FICO credit score of at least 650 and an absence of adverse credit, or apply with an eligible cosigner
  • Be enrolled at least half-time
  • Meet all other requirements under AS 14.43.172 and 20 AAC 15.705

Loan Limits

Loan Limits – Below is a table of loan limits for Undergraduate, Graduate, and Career Training programs. ACPE encourages borrowers to make a sound financial decision when it comes to taking out a loan. For additional information and guidance in making this selection, please review our Before You Borrow guide.

Program
Annual
Aggregate
Undergraduate On-time enrollment - up to $14,000
Full-time enrollment - up to $12,500
Half-time enrollment - up to $7,500 		$56,000
Graduate Full-time enrollment - up to $15,000
Half-time enrollment - up to $7,500 		$60,000
Career Training Vocational - up to $10,000 per certificate program.
Programs must be at least 180 hours over a period of not less than six weeks and result in a terminal certificate.

Flight school - Up to $10,000
Programs must log a minimum of 17 hours per month or 51 hours for a three-month period and result in a terminal certificate.   		$56,000


Note: Aggregate maximums include previous loans that have been paid-in-full, including loans from the Alaska Supplemental Loan Program, Memorial Education Loan Programs, and the Teacher Education Loan Program.
 

Learn more about how we determine your interest rate – unlike for-profit lenders, we tell you exactly what criteria we will use.  
See prior rates here

Before you take out the Alaska Supplemental Education Loan, there is important loan information you should know. At ACPE, we've put this together in one spot for you to review: ACPE Loans - What You Need to Know