CONTACT US
AlaskAdvantage Programs

ACPE Quick Loan Comparison Charts

 

These are quick comparison charts of student and parent loans funded by the Alaska Student Loan Corporation (ASLC). For more information on the individual loans or benefits, please click on the loan program or benefit names.


2009-2010 Interest Rates with Benefits1

AlaskAdvantage
Stafford Loan
2

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

8.57%

7.30%

n/a

8.90%

Base Rate

6.80%

6.80%

7.30%

7.30%

8.50%

7.30%

Alaska Presence Benefit4

-1.20%

-1.20%

-0.50%

-0.50%

-0.50%

n/a

Direct Payment Benefit

n/a

-0.25%

n/a

-0.25%

-0.25%

-0.25%

Lowest rate with immediate benefits

5.60%

5.35%

6.80%

6.55%

7.75%

7.05%

Timely Payment Benefit5

n/a

-2.00%

n/a

-2.00%

-1.00%

n/a

Lowest rate after 48 months of repayment

5.60%

3.35%

6.80%

4.55%

6.75%

7.05%

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 5.6% after 7/1/09.
3APR assumes a principal loan amount of $8,500, origination fee of 5%, borrower remains in school for four years, and a repayment term of 10 years. The APR does not include the effects of borrower benefits.

4Benefit does not apply to variable rate loans.
5This benefit persists for the life of eligible loans disbursed during a program year for which the benefit was approved. However, there is no guarantee that this benefit will be included in any benefit package associated with loans disbursed in future years.


 

AlaskAdvantage Subsidized4 Stafford Loan

AlaskAdvantage Unsubsidized5 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:

Paid by ASLC

Paid by ASLC

5%

3%

5%

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

4A subsidized loan means the government pays the interest while you are in school, in deferment, or your grace period.
5Students borrowing unsubsidized loans are responsible for repaying all interest that accrues on the loan.

 


 

 

red trees