Alaska Teacher Education Loan
The Alaska Legislature established the Teacher Education Loan (TEL) to encourage Alaska high school graduates to pursue teaching careers and to teach in Alaska rural elementary and secondary schools.
- 0% (8.84% APR)1 in-school interest, 7.6% (7.6% APR)1 repayment rate
- Low 5% origination fee
- Up to 100% forgiveness benefits to qualifying borrowers
- $7,500 annual limit
Eligibility
- Nominated by a qualifying Alaska school district
- Must meet criteria set by the nominating school district
- No adverse credit history
- Graduate of an Alaska public or private high school
- Enrolled or intend to enroll in a four-year bachelor degree program in elementary or secondary teacher education, or enrolled in a fifth-year teacher certification program on a full-time basis
How to Apply
Rural school districts annually nominate Alaskans for TEL based on high school academic performance and the students' intent to teach in a rural Alaska school. TEL application forms are sent only to qualified nominees. Applications must be completed and returned by July 1st. Remember:
- Only rural school districts nominate students.
Rural is defined as A) a community having a population of 5,500 or less, and not on the road or rail system to Anchorage or Fairbanks; OR B) a community having a population of 1,500 or less, and connected by road or rail system to Anchorage or Fairbanks.
- If you have any questions about Teacher Education Loans, call us toll free at (800) 441-2962.
1The APR assumes a principal loan amount of $7500, origination fee of 3%, freshman borrower, and a repayment term of 10 years. The APR does not include the effects of borrower benefits.
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