Alaska Student Loan And Financial Aid Programs | All You Need to Know

You can get financial aid and private student loans from Alaska to pay for college. You should be looking to benefit from these programs if you want to attend college in Alaska. 

These initiatives are created to assist in lowering the cost of college so that you can receive the training you require. Scholarships, grants, and student loans are a few examples of these programs. 

Also accessible are federal student loan programs, so keep that in mind. Learn more about how to apply for a federal student loan here. 

Additionally, there is a particular sequence of steps that we advise students to do when paying for college. You can avoid borrowing more money than necessary by taking advantage of these Alaska-specific incentives.

The state is full of natural beauty and endowed with many natural resources. Students who wish to continue their university education in Alaska also have the opportunity to fund their studies with the help of many scholarships and grants.  

 Some of these scholarships and grants benefit students because they chose to attend school in Alaska or because they are residents of the state. 

Alaska is one of the regions where student loan debt increased the fastest in the five-year period from 2014 to 2019. The current average debt is currently $32,096, which is higher than in other states. 

As part of our state-by-state guide, we’ve put together a one-stop resource for taking advantage of student loans, scholarships, and grants available in Alaska.

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Alaska Student Loan Programs

If you live in Alaska, you can take advantage of a program called the Alaska Supplemental Education Loan, which has excellent terms and benefits. 

As long as you’re enrolled at least half-time in school, the loan offers low fixed rates and no payments. Alaska Commission on Postsecondary Education has more information available. 

You can only borrow a certain amount, and the rates may not be the best (which may be why you’re here).

Alaska has several state-sponsored loan programs, but federal and private loans are also available for students wishing to study in the state.   

State Loan Programs   

The Alaska Supplemental Education Loan   This loan is courtesy of the Alaska Higher Education Commission and has interest rates ranging from 5.39 to 7.93% and certain benefits. For Alaska Residents.

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 Fixed-rate, no payments as long as you stay in the medium-term reservation. Because there is a limit to how much you can borrow, you may need to supplement that loan with a grant or other loans. 

Federal Student Loans   

Prospective students may obtain federal financial assistance by completing the free Federal Student Aid Application (FAFSA).   

Read More: How is a Student Loan Different from a Scholarship?

Co-Enrollment Student Loans   

Many private student loan options are available for those who need additional assistance in addition to government student loans.

 Many banks, credit unions, and specialty lenders offer personal student loans, but most require a joint guarantor.  

 Alaska Student Loan No Cosigner 

Funding for U identified thousands of students who were unable to qualify for private student loans due to a lack of an eligible co-signer.

 While we are no longer the only provider of such loans, we do not offer co-signed student loans to career-oriented students who are currently enrolled in college full-time.

Eligibility requirements to receive loans depend on the student’s GPA and the graduation rate of the institution she attends. 

Alaska Scholarship Programs

Alaska has a merit-based scholarship program that you can benefit from.   

Only a small portion of the scholarships available to Alaska Career College students are included in the list below.

 It’s important to look into additional opportunities like membership organizations and associations. 

For more information on applications and resources, speak with Alaska Career College.

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Alaska Performance Scholarship

 The  Alaska Performance Scholarship is a performance scholarship awarding up to $4,755 per year for up to four years (or eight semesters) that must be fully used within six years. 

  To qualify, you must be an Alaskan resident who graduated from an Alaska high school (public, private, or private) after 2011 and meets the eligibility requirements to receive an APS award.   Learn more about the Alaska Performance Scholarship here. 

Other Alaska Scholarships

These scholarships are not provided by the State of Alaska but are open to qualified Alaskan residents. 

Grants Program 

Alaska also has a grant program that provides needed financial assistance to Alaskan residents. 

Scholarships are one of the best forms of financial aid because, most of the time, you don’t have to pay back the money. 

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Alaska Education Grants 

 Alaska Education Grants are typically awarded to eligible students with unmet financial needs ranging from $500 to $4,000 per academic year.  

Students with the most financial need will be awarded in order of need until funding is exhausted. 

Students enrolling her 15 credits each semester may be eligible for an increased award.

 A student may not receive her AEG awards totaling more than $16,000 over the course of her studies.  Learn more about the  Alaska Education Grant.

IMAGINE AMERICA Adult Skills Education Program (ASEP)

 Imagine America Adult Skills Education Program (ASEP) is a national service program established in 2008 by the Imagine America Foundation.

 This $1,000 award was created to support adult non-traditional learners in their pursuit of higher education. Students must meet the following scholarship guidelines. 

Must not have previously received any other Imagine America Foundation grants/awards. Information and applications are available online at 

Please contact your Alaska Career College Admissions Advisor for more information.

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A quality education is an investment that pays off personally and financially for a lifetime. Rising education costs are making it difficult for more and more families to finance this investment. 

The quality of the educational program, not the cost, should be the deciding factor in choosing an educational institution. 

Luckily, careful financial planning and access to tuition assistance programs can make Alaska her college education affordable for her career. 

 Our goal is to attract and ultimately enroll students who demonstrate academic and intellectual achievement, demonstrate future potential, leadership potential, and special talents. 

A student’s household income does not affect admission eligibility. More than 75% of her students receive some form of tuition assistance, and many more in Alaska her career. 

Families of her college students use payment plans and tax strategies to ease their financial burden. doing.

 Financing options are available to families of all income levels.

 Although final financial responsibility rests with students and their families, staff at the Financial Planning Office are available to answer questions and assist in processing financial aid applications.  

If you are considering getting student assistance, know that you need to be very careful when choosing a school. Remember, student loans need to be paid back even if you don’t graduate, get a job, or are happy with your school of choice. 

You should choose the institution that best suits your educational, employment, and career goals, and the school that guarantees your success. 

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To assist in making the best choices, schools should provide consumer information on starting salaries for graduates


The financial requirement for students participating in federally funded programs is equal to the reported cost of attending school minus the funds available to the student. 

Costs listed include tuition and fees, books, supplies, room and board, personal expenses, transportation, and related expenses for the student’s dependents. 

Resources may include parental contributions if the student is a dependent. 

Applicant’s income; Spouse’s income if married. social care; savings; wealth and other taxable and nontaxable income.  

The Federal Needs Assessment Act is used to determine the amount of funds an applicant and/or her parents are expected to contribute to cover educational expenses. 

Students with proven needs identified by the Financial Planning Office may be eligible for support. 

Information from previous schools is used to determine the amount of financial aid a student can receive. 

In individual cases, we may use professional judgment to replace income information for the current year to help students qualify for financial aid. 

  To receive federal financial aid, students must meet the following requirements.  

  •   Be a U.S. citizen or qualified non-citizen. 
  •  Demonstrate financial need and access to aid for education.  Obtained a high school diploma or GED certificate. 
  •  Not delinquent on federal student loans.  No reimbursement or repayment of federal aid.  Attend college at least part-time. 
  •  Maintain “good progress” in your studies.  Meet Selective Service requirements.  
  • Follow school policies to combat drug and alcohol abuse.


Paying back student loans in Alaska? 

The SHARP-I program, which is supported by both the federal HRSA grant and non-federal sources like the Alaska Mental Health Trust Authority, provides student debt payback options to Alaskans as well.

An Alaska Student Loan is what? 

Families can borrow money for school needs at a reasonable cost through the Alaska Family Education Loan. Many family members are involved in the choice to pursue postsecondary education. Family members may be qualified to borrow money through our Family Education Loan on a student’s behalf.


Visit our website on the Alaska Student Loan Forgiveness Program if you already have student loans and are seeking possibilities as an Alaskan. 

All the alternatives accessible to Alaska citizens to perhaps get some of their student loan debt forgiven is listed on that page. 

Consider refinancing your student loans to potentially cut your payment while also saving money on interest. See our guide on Where To Refinance Your Student Loans for more information. 

Check out our Alaska 529 Plan and College Savings Guide if you’re seeking for strategies to save for college in Alaska. 

Check out the additional financial aid and student loan programs by state.


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