More conservative lending practices complicate Alaska student loan process

A change in the lending practices of the largest state loan program is getting a great deal of attention in the press and at the University. The Alaska Supplemental Education Loan (ASEL) now requires the borrower or co-signer to have a FICO score of 680 or above. Under this policy, UAA Student Financial Assistance is seeing about 2/3rds of student borrowers being rejected, even though they may have had a loan in prior years. However, students can reapply with a co-signer that has a minimun credit score of 680. Students with questions are advised to contact the Office of Student Financial Assistance at (907) 786-1480.