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  Professional Student Exchange (PSE) Loan Program

The PSE Loan Program is for Alaska students participating in the Professional Student Exchange Program (PSEP).

In most states, PSEP students pay resident tuition, and the students' home state pays an additional support fee to the institution. Alaska students are individually responsible for paying tuition and the support fee. ACPE finances the support fee costs in the form of a loan which the student must repay upon completion of the program of study.

No origination fee

2011-2012

Rates and Borrower Benefits

The base note rate is fixed, but borrower benefits are variable and may change annually.1

In-School Period

Repayment Period

Base note rate

4.80%
(4.80% APR2)

7.50%
(7.50% APR2)

Alaska presence

N/A

-0.50%

Recurring online payment 3

N/A

-0.25%

Lowest rate for qualifying term

4.80%

6.75%

 
  
 Eligibility

To qualify for the PSE Loan Program, you must be certified as an eligible Alaska resident and be enrolled at an eligible PSEP institution in one of the following fields of study:

  • dentistry
  • occupational therapy
  • optometry
  • physician assistant
  • podiatry
  • pharmacy
  • physical therapy
  
 How to Apply

To apply to the PSE Loan Program, you must:

  1. contact ACPE and complete the certification process before October 15 of the year preceding admission
  2. provide a copy of ACPE’s certification letter to each PSEP institution to which you apply
  3. send a copy of the institution’s acceptance letter to ACPE

Upon receipt of the institution’s acceptance letter, ACPE will send you the PSE Loan Program Master Promissory Note for completion.
  
  

1Interest rates and Borrower Benefits are subject to approval annually by the Alaska Student Loan Corporation.

2The APR assumes a 4-year dental student, principal loan amount $22,700, no origination fee, and a repayment term of 15 years.  The APR does not include the effects of borrower benefits.

3 To receive the interest rate reduction for recurring online payment, the loan must be in repayment status.