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AlaskAdvantageTM Federal Consolidation Loan

The AlaskAdvantage Federal Consolidation Loan is available for federally-guaranteed loans you currently have, even if you borrowed from multiple lenders. Please be aware that the interest rate you are now paying on your federal education loans may be less than the federal base rate, depending upon the borrower benefits afforded by your current lender. Always research the borrower benefits offered on consolidation loans before deciding what is best for your needs.

  • Zero fees
  • Fixed interest rate
  • Great benefits
  • One lender

2007- 2008 Interest Rate with Benefits

Interest Rate

Fixed rate for the life of the loan*

AlaskAdvantage General Benefit

-1.00%

Alaska Presence Benefit

-1.00%

Direct Payment Benefit

-0.25%

Timely Benefit After First 48 Repayment Months

-1.00%

Total Possible Benefits

3.25%

*The fixed rate is based on weighted average of the loans included in the consolidation, rounded up to the nearest one-eighth percent. Estimate your weighted average interest rate by entering your current loan balance(s) and current interest rates(s).

AlaskAdvantage Borrower Benefits are subject to approval annually by the Alaska Student Loan Corporation.

Payment Amount

Use FinAid's loan calculator to estimate the amount of your monthly payment.

Calculator Instructions:

  1. Enter your total education loan balance.
  2. Enter your estimated weighted average interest rate. (see above)
  3. Enter your estimated repayment period. (see below)

Repayment Period

Repayment period vary based on the total amount of your education debt. The table below can be used to determine your maximum repayment period.

Total Student Loan Debt

Repayment Period

Less than $7,500

10 years (120 months)

Less than $7,500-$9,999

12 years (144 months)

Less than $10,000-$19,999

15 years (180 months)

Less than $20,000-$39,999

20 years (240 months)

Less than $40,000-$59,999

25 years (300 months)

Less than $60,000 +

30 years (360 months)

Eligibility

  • Have minimum of $3,500 of eligible debt to consolidate
  • Alaska resident, or non-resident having at least one loan with ACPE

How to Apply

You can download an application now.  Online applications are currently not available.

Please see our FAQs or contact us at (800) 441-2962 if you would like more information on education loan consolidation.

 

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