Financial Aid
States
Alaska College Financial Aid
The Alaska Commission on Postsecondary Education is the state agency responsible for the overall statewide planning and coordination of higher education in Alaska, the administration of various student aid programs, and the performance of designated regulatory functions.
For more information about the Alaska Commission on Postsecondary Education please visit http://alaskaadvantage.state.ak.us.
| State Grants |
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AlaskAdvantage Grant Program
AlaskAdvantage Grant Program is administered by the Alaska Commission on Postseconday Eduction and is the most accessible to students. This need-based program is state-funded and intended to provide additional assistance so that all Alaskans may earn a college degree. Eligible candidates must be enrolled in an undergraduate degree program in one of the state colleges or universities and be an Alaska resident. Apply by filling out the FAFSA. Award amounts are usually between $500 and $2500.
Go to the Alaska Commission on Postsecondary Education website, AlaskAdvantage, for further details on the grants discussed here.
What other Grants are available?
| State Loans |
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AlaskAdvantage Loan Program is administered by the Alask Commission on Postseconday Eduction. They offer the following four plans:
- AlaskAdvantage Stafford Loan
- Alaska Supplemental Education Loan
- AlaskAdvantage PLUS Loan
- Family Education Loan
AlaskAdvantage Stafford Loan
The AlaskAdvantage Stafford Loan is your lowest-cost option loan. The Stafford is a federally guaranteed loan with interest subsidies available to qualified borrowers. The interest rates are fixed, but borrower benefits are variable and may change annually. To apply for this loan, you will first need to complete the FAFSA. For more detail, please visit ACPE.
Alaska Supplemental Education Loan
The Alaska Supplemental Education Loan is an alternative, low-cost borrowing option to supplement funding for students with costs of attendance not fully covered by the AlaskAdvantage Stafford Loan. The interest rates are fixed, but borrower benefits are variable and may change annually. To apply for this loan, you will first need to complete the FAFSA. For more detail, please visit ACPE.
AlaskAdvantage® PLUS Loan
(Parent Loans for Undergraduate Students)
The AlaskAdvantage PLUS Loan is federally guaranteed and available to parents of undergraduate, dependent students. Parents can borrow up to the school's cost of attendance less other financial aid received. The interest rate are fixed, but borrower benefits are variable and can change annually. For more detail, please visit ACPE.
Alaska Family Education Loan
The Family Education Loan (FEL) is available to family members wishing to help students with education expenses. The interest rates are fixed and you must be an Alaskan resident to apply. For more information, please visit https://www2.acpe.educ.state.ak.us/.
Alaska Teacher Education Loans
The Alaska Teacher Education Loans are a two-fold program offered to Alaska students studying teaching. The goal of the program is to encourage students to enter careers as teachers as well as remain teaching within the state. Students attending an Alaska college or university are eligible for low-interest student loans. Those that agree to exchange a specified number of years teaching in Alaska's rural public schools may qualify for loan forgiveness. Apply directly through the school for consideration.
What other loans are available?
| 529 Plans |
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The state of Alaska offers three flexible investing options to assist families in planning for the future education of a child or loved one.
1) UA College Savings Plan
The UA College Savings Plan is a 529 plan: A tax-advantaged opportunity for your family - including grandparents and other relatives - to invest for your children's future college tuition and expenses. It's offered by the Education Trust of Alaska, but you can use the funds at practically any educational institution in the country, with an option to lock in the tuition value for future education at the University of Alaska.
Program type: Savings
How to enroll: Enroll directly with the program.
State residency requirements: None
Benefits - Tax Exemptions: Yes
Benefits - Tax Deductions: No
Benefits - Matching Grant: No
Phone: 1-800-478-0003
Website: www.uacollegesavings.com
2) T. Rowe Price College Savings Plan
This nationally-branded version of Alaska's direct-sold 529 savings program mirrors the University of Alaska College Savings Plan but lacks the ACT Portfolio found in the UA program.
Program type: Savings
How to enroll: Enroll directly with the program.
State residency requirements: None
Benefits - Tax Exemptions: Yes
Benefits - Tax Deductions: No
Benefits - Matching Grant: No
Phone: 1-866-521-1894
Website: www.price529.com
3) John Hancock Freedom 529
T. Rowe Price Group and John Hancock have teamed up with Alaska to offer this 529 savings program.
Program type: Savings
How to enroll: Enroll directly with the program.
State residency requirements: None
Benefits - Tax Exemptions: Yes
Benefits - Tax Deductions: No
Benefits - Matching Grant: No
Phone: 1-866-222-7498
Website: johnhancockfreedom529.com
What are some other college savings options?
| Other State Resources |
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