. Alaska Career College | Financial Aid

Financial Aid



Quality education is an investment that will provide lifelong personal and financial returns. Because of rising educational costs, more and more families are finding it difficult to finance this investment. The deciding factor in selecting your educational institution should be the quality of the education program, not the cost. Fortunately, careful financial planning and the availability of tuition assistance programs help to make an Alaska Career College education affordable.

Our goal is to attract, and ultimately enroll, students who demonstrate academic and intellectual achievement, promise, the potential for leadership, and special talents. The family income level of students has no effect on their eligibility for admission. Over 75 percent of our students receive some form of tuition assistance, and many more families of Alaska Career College students take advantage of payment plans, and tax strategies to lighten the financial burden. Financing options are available to families at every income level. Although the ultimate financial responsibility rests with the student and the family, the staff of our Financial Planning Office is available to answer your questions and help you as your applications for financial aid are processed.

We want you to know that if you plan to use tuition assistance you should use extreme care in selecting a school. Remember student loans must be repaid even if you do not graduate, or get a job, or are dissatisfied with your choice of schools. You should select an institution best suited to your education, employment and career goals, and a school that can give you the greatest assurance of success. To help make the best selection, a school should provide you with consumer information about:

  • Training programs
  • Tuition assistance programs
  • Facilities, equipment, and faculty
  • Student completion rates
  • Student support services
  • Graduate placement success
  • Average starting salaries of graduates


As an institution assisting students with financial planning, Alaska Career College is concerned that students not only receive information required by federal and state agencies but information that will assist students in making sound financial decisions. Most of the information required to be distributed by the Higher Education Amendments of 1998 has been satisfied by this catalog; however, Financial Planning advisors are available to discuss consumer information in more detail either by telephone or in person.



As an institution participating in Federal student Aid loan programs the following code of conduct applies to all Alaska Career College employees and agents of the college. This code of conduct includes the following bans:

  • Revenue-sharing arrangements with any lender
  • Steering borrowers to particular lenders or delaying loan certifications, and
  • Offering of funds for private loans to students in exchange for providing concessions or promised to the lender for a specific number of FSA loans, a specified loan volume, or a preferred lender arrangement
  • Receiving gifts from a lender, guaranty agency, or loan servicer
  • Accepting any type of consulting arrangement or contract to provide services to or on behalf of a lender relating to education loans; and
  • Serving on an advisory board, commission, or group established by lenders or guarantors, except for reimbursement for reasonable expenses.


Financial need for students participating in the federal financial aid programs equals the difference between the stated costs of attending the school, less the resources available to the student. Stated costs include tuition and fees, books, supplies, room and board, personal expenses, transportation and related expenses of the student's dependents, if any. Resources may include parent's contribution, if the student is dependent; applicant's earnings; spouse's earnings, if married; public assistance; savings; assets and other taxable and non-taxable income.

Through the use of the Federal Needs Analysis Methodology, a determination is made as to the amount of funds the applicant and/or his or her parents are expected to contribute toward meeting education costs. Students with a demonstrated need as calculated by the Financial Planning Office may be eligible to receive assistance. Information from any previous school(s) attended is used in determining the financial assistance a student may receive. Professional Judgment may be used in isolated circumstances supplanting current year income information in order to assist a student with financial aid eligibility.

To receive Federal Financial Aid a student must meet the following requirements:

  • Be a U.S. citizen or eligible non-citizen.
  • Demonstrate financial need and will use aid for education.
  • Earned a high school diploma or GED certificate.
  • Not be in default on any Federal student loan.
  • Do not owe a refund or repayment on a federal grant.
  • Be attending college on at least a half-time basis.
  • Maintain “satisfactory progress” in your studies.
  • Meet the requirements for the Selective Service.
  • Follow the school Anti-Drug and Alcohol Abuse policy.


Education tuition assistance is arranged on an individual basis. A personal appointment is scheduled for you with our Financial Planning Office to assist you in obtaining the necessary applications and in determining your financial aid eligibility.

Alaska Career College firmly believes that continued education beyond high school is the right of every individual. Lack of financial resources alone should not be a barrier to this preparation. Alaska Career College is an eligible institution to participate in federal, state, city and municipal financial aid programs. The following are only a few of the numerous tuition assistance resources. Complete information on each program is available at Alaska Career College or directly from the financial aid program.

ALASKA SUPPLEMENTAL EDUCATION LOAN Low interest rate, long-term loan programs administered by the Alaska Commission on Postsecondary Education for students and/or their family members attending a school physically located in Alaska. Borrowers must be deemed credit worthy, or have a creditworthy co-signer in order to use this loan program. The maximum for the loan program at Alaska Career College is $6500 for non-degree programs and $8500 for degree programs Interest rates are subject to approval annually by the Alaska Student Loan Corporation. Interest rates on loans are issued prior to each academic year, which begins July 1, by the Alaska Student Loan Corporation and change annually. Loan repayment is required to begin six months after the student exits from school. The minimum monthly payment on an Alaska Student Loan is $50 per month. The Alaska Family Education Loan is another low “fixed interest” rate, long-term loan available to family members of students. Loan repayment is required to begin one month after the loan is disbursed. The minimum monthly payment on an Alaska Family loan once it is in repayment is $50 per month. Ask an Alaska Career College Financial Planning Advisor for details.

WILLIAM D. FORD DIRECT LOAN PRORAM FOR STUDENTS AND PARENTS is a low-interest loan for students and parents to help pay for the cost of a student’s education after high school. The lender is the U.S. Department of Education rather than a bank or other financial institution. With Direct Loans, the student borrows directly from the federal government and has a single contact-the Direct Loan Servicing Center—for everything related to the repayment of your loans. Direct Loan account information is available 24 hours a day, 7 days a week at Direct Loans on the Web at: www.dl.ed.gov. Choose from several repayment plans that are designed to meet the needs of almost any borrower, and you can switch repayment plans if your needs change. The maximum an Alaska Career College student may currently borrow varies between the Subsidized and Unsubsidized portion of the loan, programs of study and the financial need of the student. The amount an eligible dependent student may currently borrow is up $5500 per training program, of which $3500 could be subsidized, dependent on program length. Additional loans are available to eligible independent students and dependent students whose parents have been denied a Plus loan. The maximum loan amount is $6000, again dependent on program length. Direct loan interest rates are issued prior to each academic year, which begins July 1, and varies according to the base rates set each year, by the United States Department of Education. Repayment of federal education loans begins 6 months after the student exits from school. The Subsidized loan is a need based loan which the federal government pays the interest while you are in school, deferment, or your grace period and interest begins to accrue when repayment begins. Interest begins to accrue on the unsubsidized loan when loan funds are disbursed. The minimum monthly payment on each loan once it is in repayment is $50 each month. Your Alaska Career College Financial Aid Advisor can give you more information regarding your actual payment amount.

IMPORTANT DISCLOSURE INFORMATION ABOUT STUDENT LOANS Alaska Career College submits loan information to the National Student Loan Data System (NSLDS), which will be accessible by guaranty agencies and lenders and schools determined to be authorized users of the data system.

FEDERAL PELL GRANT The Federal Pell Grant is a needs-based federal student aid program, not requiring repayment, which is designed to provide assistance to eligible undergraduate students pursuing postsecondary education. The value of the award at Alaska Career College varies from $602-$5730 depending on the program and the financial need of the student. Amounts vary from year to year depending on federal regulations. The amount of Federal Pell Grant funds you will receive over your lifetime is limited to the equivalent of six years of 100% Pell Grant eligibility, and aggregate limit of 600%. Students can monitor their aggregate balance by logging on to the National student Loan Data System (NSLDS) website at http://nslds.ed.gov/nslds_SA and viewing their Lifetime Eligibility Used found on the Financial Aid Review page.

ALASKADVANTAGE EDUCATION GRANT The AlaskAdvantage Education Grant is a need-based program funded by the Alaska Student Loan Corporation, which provides the state match dollars required for participation in the federal LEAP program (Leverage Educational Assistance Partnership Program). Grant awards range from a minimum of $500 to a maximum of $4,000 per academic year for students who have qualifying unmet financial need.

All Alaska residents who complete the Free Application for Federal Student Aid (FAFSA) by April 15th of each year, and who list Alaska Career College as their high education institution, will be considered as having applied for the grant program. Qualifying applicants will be prioritized based on financial need. Students with the highest financial need will be awarded in order of need until funds are exhausted. All applicants must complete a new FAFSA each year.

VETERANS & ACTIVE DUTY MILITARY EDUCATIONAL BENEFITS Alaska Career College programs are approved for the training of military personnel, veterans and eligible dependents. If you think that you may be eligible for any of these benefits, contact the Financial Planning Department at Alaska Career College or a veteran or military education officer. Credit may be granted for previous military experience and education, if applicable to your program of study. Per VA regulations, any students seeking to utilize VA funding, transcripts for any prior postsecondary education and training, both from another school and from the military, must be provided to Alaska Career College for evaluation. See Experiential Learning / Credit Transfer for additional information.



The following list reflects only a few of the scholarship opportunities available to Alaska Career College students. Other opportunities such as membership organizations and associations should also be explored. Contact Alaska Career College for additional resources and applications.

ALASKA MEDICAL ASSISTANT SOCIETY SCHOLARSHIPS AMAS annually awards three $200 and two $250 scholarships. Applicants must be students in good standing and must be an AAMA member. Contact Alaska Career College Admissions Office for information.

ALASKA SCHOOL COUNSELORS HIGH SCHOOL TUITION SCHOLARSHIP Alaska Career College participates with the Alaska High School Counselors Association in awarding scholarships to qualified high school seniors recommended by their high school counselor. If you are an Alaskan high school senior, ask your high school counselor or the Alaska Career College Admissions Office for information.

ALASKA VISITORS ASSOCIATION TUITION SCHOLARSHIP The Alaska Visitors Association annually offers tuition scholarships. Contact the Alaska Visitors Association or the Alaska Career College Admissions Office for information.

BEATRICE MCDONALD TUITION SCHOLARSHIP The International Association of Administrative Assistants, Billikin Chapter, awards $750 scholarships for courses in computer information, office systems, secretarial skills, or in preparation for the Certified Professional Secretary – CPS examination. Contact the Alaska Career College Admissions Office for information.

ALASKA CAREER COLLEGE COMMUNITY TUITION SCHOLARSHIP Alaska Career College awards community scholarships each academic year to qualified individuals. Applicants accepted into an Alaska Career College program are eligible to apply for scholarship funding. Students interested should contact the Alaska Career College Admissions Office for information. Up to $500 can be awarded to qualified applicants.

ALASKA CAREER COLLEGE GRADUATE STUDENT TUITION SCHOLARSHIP Graduates of Alaska Career College programs are eligible to apply for a $500 Alaska Career College Graduate Scholarship. Graduates of Alaska Career College programs who have paid full tuition may apply for this scholarship when enrolling in another Alaska Career College program. Contact the Alaska Career College Admissions Office for qualifying information.

ALASKA CAREER COLLEGE HIGH SCHOOL TUITION SCHOLARSHIP Each year Alaska Career College offers tuition scholarships to every high school in Alaska. These scholarships vary in amount and are awarded to qualifying graduating seniors. The high school faculty and staff select scholarship recipients in the spring of each year. If you are a high school senior and expect to graduate during the spring or summer you are eligible to apply. Contact your high school counselor or the Alaska Career College Admissions Office for information.

IMAGINE AMERICA ADULT SKILLS EDUCATION PROGRAM (ASEP) The Imagine America Adult Skills Education Program (ASEP) is a national aid program established in 2008 by the Imagine America Foundation. This $1,000 award was established to assist adult, non-traditional learners in their quest for higher education. Students must meet the following scholarship guidelines: Be 21 or older with a high school diploma or GED. Not be a previous recipient of any other Imagine America Foundation scholarship/awards. Information and application forms are available online at www.imagine-america.org. For more information, students should consult with an Alaska Career College Admissions Advisor.

CARL FUNDEEN MEMORIAL TUITION SCHOLARSHIP The FAA Civil Air Club, an employee organization within the Federal Aviation Administration, sponsors educational opportunities for aviation industry students that will enhance job skills and/or motivate them to plan, enhance and develop their aviation careers. Two $500 scholarships are awarded annually. Contact the Alaska Career College Admissions Office for information.

JIM SNEAD MEMORIAL TUITION SCHOLARSHIP The Anchorage Air Cargo Association, a membership organization within the transportation industry, sponsors educational opportunities for persons interested in pursuing careers in the transportation and related industries. Scholarship awards are valued up to $1000. Contact the Alaska Career College Admissions Office for information.

KING CAREER CENTER / HUTCHINSON CAREER CENTER If you are a high school senior attending the King Career Center in Anchorage, Alaska, or the Hutchinson Career Center in Fairbanks, Alaska, ask about the programmatically specific scholarships. Alaska Career College offers scholarships to qualifying students for each program. Contact your high school guidance counselor career center instructor for information.



Congress has authorized several programs to help qualified taxpayers save on their taxes through various programs. Below are some highlights:

TAX CREDITS A tax credit is subtracted directly from your federal tax bill. The savings are dollar-for-dollar, which can result in a higher refund.

TAX DEDUCTIONS A tax deduction is subtracted from your income before you calculate your tax. This quite often translates into a percentage reduction, rather than a dollar-for-dollar reduction in your tax bill.

AMERICAN OPPORTUNITY CREDIT You may be able to claim up to $2,500 of qualified tuition and education expenses for each student, provided:

  • The student is enrolled at least half-time in a degree, or diploma program
  • The student is in the first four years of postsecondary education; and
  • The student does not have a felony drug conviction on their record.

LIFETIME LEARNING CREDIT You may be able to claim up to $1,000 of annual qualified education expenses:

  • The student is enrolled at less than half time;
  • The student does not need to be pursuing a degree or certification program, and;
  • You may claim the credit for an unlimited number of years for the same student.

STUDENT LOAN INTEREST DEDUCTION You may be able to deduct up to $2,500 in paid student loan interest. You do not need to itemize your deductions to claim this deduction. The following loans are eligible for the deduction:

  • Federal Stafford Loans
  • Federal PLUS (Parent) Loans
  • Federal Perkins Loans
  • Alternative Education Loans

IRA WITHDRAWALS TO PAY HIGHER EDUCATIONAL COSTS You may be able to withdraw funds from a Roth or Traditional IRA and be exempt from paying the 10% early withdrawal penalty if the funds are used for qualifying education expenses.

Please consult your tax professional, or refer to IRS Publication 970, Tax Benefits for Higher Education, on the IRS website, www.irs.gov/pub/irs-pdf/p970 for additional information.

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