ACPE Quick Loan Comparison Charts These are quick comparison charts of student and parent loans offered by the Alaska Commission on Postsecondary Education. For more information on the individual loans please click on the loan programs. 2008-2009 Interest Rates with Benefits1 AlaskAdvantage Stafford Loan2 Alaska Supplemental Education Loan AlaskAdvantage PLUS Loan Family Education Loan In-School Period/ Grace/ Deferment Repayment Period/ Forbearance In-school Period/ Grace/ Deferment Repayment Period/ Forbearance     Annual Percentage Rate3 n/a n/a 8.27% 7.30% n/a 6.31% Base Rate 6.80% 6.80% 7.30% 7.30% 8.50% 5.00% AlaskAdvantage General Benefit -0.80% -0.50% n/a n/a -1.00% n/a Alaska Presence Benefit -1.00% -1.00% -0.50% -0.50% -1.00% n/a Direct Payment Benefit n/a -0.25% n/a -0.25% -0.25% -0.25% Lowest rate with immediate benefits 5.00% 5.05% 6.80% 6.55% 6.25% 4.75% Timely Payment Benefit n/a -2.00% n/a -2.00% -1.00% n/a Lowest rate after 48 months of repayment 5.00% 3.05% 6.80% 4.55% 5.25% 4.75% 1Interest rates are set according to the base rates set each year by the United States Department of Education. Interest rates and borrower benefits are subject to approval annually by the Alaska Student Loan Corporation and do not apply to interest subsidized by the federal government. 2benefits apply only to the interest owed by the borrower; not to subsidized loans. The base rate for undergraduate borrowers on subsidized Stafford loans is 6.0% after 7/1/08. 3APR assumes a principal loan amount of $8500, origination fee of 3%, freshman borrower, and a repayment term of 10 years. The APR does not include the effects of borrower benefits.   AlaskAdvantage Subsidized5 Stafford Loan AlaskAdvantage Unsubsidized6 Stafford Loan Alaska Supplemental Education Loan AlaskAdvantage PLUS Loan Family Education Loan What is it? Low-interest education loan for students Loan to parents Low-interest loan to family member Need-based? Yes No No No No Credit Check Required? No No Yes Yes Yes Origination fee: No No 3% 3% 3% Type of interest rate: Fixed Fixed Fixed Fixed Fixed Repayment begins: 6 months after a student graduates or attends less than half time Within 60 days of full disbursement Deferment available? Yes Yes Yes Yes No Forbearance available in cases of hardship? Yes Yes Yes Yes No Are repayment options available? Yes Yes Yes Yes Yes 5a subsidized loan means the government pays the interest while you are in school, in deferment, or your grace period. 6students borrowing unsubsidized loans are responsible for repaying all interest that accrues on the loan.