Financial Aid and Student Loans in Alaska

Alaska – the last frontier!

The state is filled with natural beauty and blessed with plenty of natural resources. Students wishing to pursue their college education in Alaska also have the opportunity to access numerous scholarships and grants to finance their studies.

Some of these scholarships and grants favor students because they chose to attend school in Alaska or if they are residents in the state.

Alaska has had one of the most substantial 5-year increases in student loan debt from 2014 to 2019. The current average debt currently is $32,096, which is on the higher side compared to other states.

As part of our state by state guide,  we’ve compiled a central resource to help you take advantage of the student loans, scholarships, and grants available in Alaska.

University of Alaska Scholars Program

The program helps to retain high school graduates in Alaska by rewarding the most outstanding students. It rewards the top 10% of Alaska high school graduates, awarding $12,000 over the course of 4 years.

The scholarships are available for any University of Alaska campus in Anchorage, Fairbanks, and Juneau.


The Alyeska Pipeline Service Company offers scholarships of up to $2,500 to support the education and training of Alaskan residents in the fields of engineering, health, safety, quality, environment, security, project management, inspection, and information technology.

They also sponsor business planning and technical education.

The deadline to apply is August 10.

Alaska Performance Scholarship

The scholarship is for students in Alaska who go through a rigorous high school curriculum and earn a 2.5 GPA minimum. Applicants must also perform well in the SATs or ACTs.

KEF General Scholarships

These scholarships are valued up to $2,500, and awarded to applicants with a minimum 2.0 GPA. The applicants must be shareholders or descendants of the Koniag Region. 

Scholarship deadlines are March 15 for Summer/Fall/Spring and June 1 for Fall/Spring semesters.

What Grant Programs Does Alaska Have?

There are several grants available for students attending school in Alaska:

The Alaska Academic Competitiveness Grant

The grant gives $750 to undergraduate students for the freshman year and a maximum of $1,300 to undergraduate students in the second year of study.

Eligible students must be enrolled full-time and qualified to receive the Federal Pell Grant. They must also have completed a rigorous high school program by a local or state education agency.

The Alaska Space Grant Program Fellowships

The program gives service-based grants to students who work on aerospace-related projects. The amount awarded varies based on the scope of the project and the level of responsibility the student assumes.

What Student Loan Programs Does Alaska Have?

Alaska has some state-sponsored loan programs, but students intending to study in the state can also access federal loans and private loans. Below we have outlined the various loans available to consider before you apply:

State Loan Programs

The Alaska Supplemental Education Loan

The loan is courtesy of the Alaska Commission on Postsecondary Education has rates of 5.39 – 7.93% with specific perks for Alaska residents. It comes with fixed interest rates, and no payments as long as you remain in half time enrollment. There are limits to how much you can borrow, so you may need to supplement this loan with scholarships, grants, or other loans.

Federal student loans

Prospective students can receive federal financial aid assistance by completing the Free Application for Federal Student Aid(FAFSA).

Private co-signed student loans

There are many private student loan opportunities for those who need additional assistance on top of federal student loans. Many banks, credit unions, and dedicated lending companies offer private student loans, but almost all require a co-signer.

No co-signer student loans in Alaska

Funding U began because we identified thousands of students who were unable to qualify for a private student loan because they didn’t have an eligible co-signer. While we’re no longer the only provider of such loans, we offer no co-signer student loans to career-focused students currently enrolled full time in college. The requirements for receiving a loan are dependent upon the GPA of the student and the graduation rate of the institution they attend. To learn more about our no co-signer student loans click here.

NOTE: Funding U does not offer loans to residents of the state of Alaska.  However, if you are attending a school located in Alaska and are a resident of another state that is eligible you may apply.

What Schools Does Funding U Lend to in Alaska?

Funding U’s no co-signer loans are offered to students at eligible four-year, non-profit, undergraduate degree-granting universities. These requirements mean that we do not lend to for-profit schools, 2-year schools, graduate schools, or trade schools.

Our eligibility requirements are based on models that predict how likely a student is to graduate, so we have minimum GPA requirements that students must meet and minimum 6-year graduation rates that schools must reach to be eligible. Find out more about how we determine our eligibility here.

Below is a table listing all of the schools in Alaska that Funding U is currently lending to, with additional details on which grades we are now including based on the school’s six-year graduation rate.

School NameFreshman
6 yr
Grad Rate
Alaska Pacific UniversityNoNoYesYes5678
University of Alaska AnchorageNoNoNoNo3069
University of Alaska FairbanksNoNoNoNo3277
University of Alaska SoutheastNoNoNoNo3670
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