|
AlaskAdvantage Benefit
|
What Is It?
|
Who Gets It?
|
How Much Is It?
|
|
AlaskAdvantage General Benefit
|
An automatic cost reduction, just for borrowing from Alaska’s higher education assistance agency flagship programs
|
AlaskAdvantage Stafford Loan, PLUS, and Federal Consolidation borrowers
|
From .50 to 1.00%, depending on your loan type See Details...
|
|
Alaska Presence Benefit
|
An annual cost reduction for qualifying borrowers who attend an Alaska school or who live in Alaska while they are repaying their loans
|
 |
AlaskAdvantage Stafford, ASEL, PLUS, and consolidation borrowers attending a school physically located in Alaska
|
|
AlaskAdvantage Stafford, ASEL, PLUS, consolidation and PSEP borrowers who reside in Alaska after they finish school and enter repayment
|
|
An annual cost reduction equivalent to 1% of your loan’s outstanding principal balance
|
|
Direct Payment Benefit
|
A cost reduction for participating in qualifying automated payment methods
|
Borrowers who use ACPE’s Web Pay or payroll deduction programs while their loans are in repayment
|
An interest rate reduction of .25%
|
|
Timely Payment Benefit
|
A cost reduction for borrowers in repayment who have made their first 48 consecutive on-time payments
|
Borrowers in repayment who have made their first 48 consecutive on-time payments
|
From 1% to 2%, depending on your loan type See Details...
|
|
Origination Fee Reduction
|
Reduced origination fees on qualifying loans
|
All AlaskAdvantage Stafford borrowers
|
|
No default fee**
|
|
No lender fee
|
|
