AlaskAdvantage Borrower Benefits are cost reductions, typically applied as quarterly or annual account credits or interest rate reductions, to reduce the borrower-paid costs whenever the Alaska Student Loan Corporation has the financial capacity to do so.
Benefits are variable, meaning that a new benefits package, if any, must be approved each program year. Borrowers who do not maintain a current repayment status may forfeit some or all benefits. AlaskAdvantage Borrower Benefits are available only on Alaska Student Loan Corporation loans.
| AlaskAdvantage 2011-2012 Loan Rates and Benefits |
|
Fixed Rate
ASEL
|
Variable Rate ASEL2
|
Fixed Rate ALT Consolidation |
Fixed Rate TEL1 |
Fixed Rate ASL2 |
Fixed Rate FEL |
Fixed Rate PSEP |
All FFELP2 |
|
In-School |
Repayment |
Repayment,
unless indicated otherwise |
In-School and Repayment |
Repayment, unless indicated otherwise |
Repayment |
|
Base note rate
|
7.50% 3
|
7.50%3
|
2.90%3
2.80%3, 4
|
7.50%5
|
7.50%6 |
varies |
7.50%3
|
7.50%6
4.80%4, 6 |
Varies |
|
Alaska presence
A cost reduction for qualifying borrowers who attend an Alaska school or who live in Alaska while they repay their loans, and are not delinquent. Applied as a one-time credit.
|
-0.50%
|
-0.50%7
|
|
|
|
|
|
-0.50%7
|
|
|
Online auto-pay
A cost reduction for borrowers current in repayment who use ACPE’s online automatic payment method. Applied as an interest rate reduction.
|
|
-0.25%
|
-0.25%
|
-0.25%
|
-0.25%
|
-0.25%
|
-0.25%
|
-0.25%
|
-0.25%
|
|
Lowest rate for qualifying term
|
7.00%
|
6.75%
|
2.65%
2.80%4 |
7.25% |
varies |
varies |
7.25% |
6.75%
4.80%4 |
Varies |
1 These loans continue to be forgiveness-eligible under certain circumstances.
2 No longer originated, but the remaining outstanding loans are eligible for borrower benefits as indicated.
3 The rate is set by the Alaska Student Loan Corporation Board.
4 The applicable in-school interest rate.
5 The rate is set in accordance with 20 AAC 15.860
6 The rate is set by the Alaska Commission on Postsecondary Education
7 Must be in repayment status and current in payment.