FIND Additional Payment Options

Payment Plan and Additional Loan Options

Payment Plans

Please refer to the Office of the Bursar's Payment Plan & Student Account Center website below for "Current Semester" and "Past Due Balance" payment plan deadlines and details. Students enrolled in a "current semester" payment plan prior to the published payment deadline and making timely payments are not subject to campus late fees of up to $300. Enroll early to spread your balance over the most monthly installments available. *Students can even set up authorization for other individuals to become "authorized users" so they can make payments on the student account without needing to log into UAOnline.

To access the payment plan:

  1. Log into UAOnline
  2. Select the Student Services & Account Information tab
  3. Click Student Account
  4. Click Make Payments
  5. Select the current Term from the drop down menu and click the Submit button
  6. Acknowledge the refund policy statement by clicking the checkbox
  7. Click the Pay Now button

* Authorized User Login

For more information visit the Payment Plan & Student Account website.

Dependent or graduate students who need additional funds beyond what they qualify for in regular federal student aid, including Federal Direct Subsidized and Unsubsidized Loans, may choose to apply for a supplemental Federal Direct PLUS Loan. The U.S. Department of Education makes Direct PLUS Loans to both eligible parents and graduate or professional students. Note: A Direct PLUS Loan is commonly referred to as a parent PLUS loan when made to a parent, and as a grad PLUS loan when made to a graduate or professional student.

Before applying, make sure you or your child have already filled out the Free Application for Federal Student Aid (FAFSA®) form.

  • Federal Grad PLUS Borrowers
  • Federal Parent PLUS Borrowers
    • In addition to completing the Parent PLUS Loan (MPN), you must also complete a UAA Parent PLUS Loan Request Form*, available on the UAA Financial Aid Forms page. 
    • Special Note - Parent-Applicant Credit Score APPROVED: If the parent-applicant's credit score is approved by the federal processor, the funds will be applied to the student's UAA account and will be used to pay any outstanding tuition, housing or other qualified charges. UAA's form allows the parent to inform UAA how to disburse any remaining loan credit balance, resulting from the PLUS loan deposit.
    • Special Note: Parent-Applicant Credit Score NOT APPROVED: If the parent-applicant's credit score is not approved, the dependent student may speak to a UAA Financial Aid Advisor about gaining additional federal loan eligibility in the current academic year.

Alternative Educational Loans (ALT), also known as private educational loans, consist of any student loan that is not a federal student loan.  ALT loans offer additional financial assistance to students and are available from banks and private loan companies, including several right here in Alaska. Students who need additional funds beyond what they qualify for in federal student aid (including Federal Direct Loans) or students who are not eligible for Federal Direct Loans may wish to apply for an alternative education loan. 

  • U.S. Citizens and Eligible Non-citizens: Alternative loans should ONLY be considered after applying for federal financial aid using the Free Application for Federal Student Aid (FAFSA). A FAFSA can still be submitted even after the semester has started.
  • International Students and Non-citizens not eligible to complete the FAFSA may be eligible to borrow private, alternative loans.



 UAA's Financial Aid advisors want to help students maximize their aid so they understand all the options, rates and terms available. Students should contact a Financial Aid advisor to explore the full range of considerations before deciding to apply for an ALT loan.

Application Steps

  1. Start the application process for an alternative loan by choosing a lender and contacting them directly to begin the pre-approval process. Don’t be shy about asking questions.
  2. Your lender will perform a credit review. If approved, you will be provided a self-certification form and promissory note that you will need to complete and return to your lender.
  3. Your lender will notify UAA that you have applied for a loan.  Once we receive this notification, we will certify your loan once we determine you are eligible.
  4. Once your lender has received all necessary information from you and from our office, you will be sent additional disclosures from your lender. Once all requirements are met, your lender will send your loan funds to the Financial Aid Office.

Time-frame for Processing an ALT Loan:

  • If you apply for an alternative loan, your lender will send a certification request to our office and we will review your eligibility based on your lenders requirements. Lenders that use an electronic process for certification and disbursement are much faster than lenders who use a paper process. Certifications are generally reviewed within 1 week from the day we receive it from your lender. You will receive an e-mail from us if we have any questions or concerns regarding your alternative loan. Once we have certified your loan, you will receive a final Disclosure from the lender. At this time you have a 3 day rescission period from receipt of the Final Disclosure. This rescission period allows you to cancel the loan without penalty if you change your mind.
  • Give yourself plenty of time! The new Truth in Lending Act requires additional processing steps that include a three day waiting period after the necessary disclosures have been completed and before the loan can be disbursed. Depending on the lender, this can add an additional 3 to 7 days from time of application to disbursement.
  • Provided you are eligible for the loan, funds will be disbursed from your lender to your student account. The timing of disbursement will vary from lender to lender. At a minimum, your loan will disburse no sooner than 10 days prior to the first day of classes or at least three business days from the time your lender sends you the Final Disclosure notice, whichever is later. Be aware that the overall processing time may vary depending on your lender and that a processing time of several weeks is a definite possibility.

To assist you in taking charge of your finances, UAA recommends that students review the "Loan Repayment Comparison" information covered in the "Considerations Before Borrowing Loans" section.

Considerations Before Borrowing Loans

  • Great Advice
    • Be sure you have exhausted all other possible sources of financial aid first; including federal loans.
    • Look for ways to reduce your expenses before deciding how much to borrow.
    • Consider UAA's Touchnet Payment Plan. Family and friends may be willing to support your education goals by helping you make one-time or reoccurring payments.
    • Borrow only what you absolutely need.
    • Ask questions and compare the rates and terms offered by different lenders.
    • If you decide to pursue an alternative loan, you must apply directly through the lender. You are free to choose any lender you wish.  Each lender will have varying eligibility criteria and available loan terms.
    • Your credit score may determine the interest rate on your approved loan, which is different from federal student loans that have a yearly fixed rate.
  • Alternative Loan Facts
    • They usually have higher variable interest rates, more restrictive repayment terms, and seldom offer loan forgiveness when compared to Federal loans.
    • They all require a credit check. Lenders will look at criteria such as credit history, minimum income requirements, and debt-to-income ratio. (Credit score requirements vary by lender.)
      • A creditworthy cosigner may be required.
      • Even if you can qualify for a loan based on your own credit, a cosigner may reduce your interest rate.
    • Interest rates and loan terms are subject to change and vary by lender.
      • Review the lender’s website for the most up to date information before applying for a loan.
    • Lenders send a certification request to the school after you have applied for a loan. This is done to ensure that a student meets all of the lenders eligibility criteria and that a student does not borrow more than their cost of attendance minus all other aid. UAA cannot certify a loan for which you are not eligible.
      • Review your estimated cost of attendance and existing financial aid on UAOnline to help you determine what you may need to borrow.
      • Loans are certified based on academic years. UAA cannot certify loans with disbursements in both a summer and fall term, because this crosses financial aid award years.
  • Questions to Ask the Lender
    1. What are the eligibility requirements?
    2. Are there a minimum number of credits I have to be enrolled in?
    3. Does the lender require that I be admitted to a degree or certificate program?
    4. Is there a minimum amount I have to borrow?
    5. Are interest payments required while I’m in school?
    6. What is the interest rate and is it variable or fixed? Is there a maximum interest rate they can charge?
    7. How long will I be repaying the loan?
    8. Is there a penalty for paying off the loan early?
    9. When do I have to start making payments?
    10. What are the repayment terms?
    11. If I have difficulty making payments (economic hardship), do they allow deferments or reductions in payments temporarily? Under what circumstances, and for how long?
  • Loan Repayment Comparison

    These examples provided in the chart below assume that any interest accrued will be paid while in school and no interest capitalization occurs. If interest is not paid while in school, it is capitalized (added to the loan principle at set intervals) and the resulting payment and interest paid amounts will be higher. The interest rate used for the alternative loan is the average found by the study, ‘Paying The Price: The High Cost Of Private Student Loans And The Dangers For Student Borrowers' by the National Consumer Law Center, March 2008.

    Several loan comparison calculators are available online:

    1. bigfuture Student Loan Comparison Calculator
    2. FinAid Loan Comparison Calculator
      Direct Unsubsidized Direct PLUS Alternative
    Loan Balance $10,000 $10,000 $10,000
    Loan Interest Rate 4.29% 6.84% 11.5%
    Loan Term 10 Years 10 Years 10 Years
    Monthly Payment $102.63 $115.29 $140.60
    Number of Payments 120 120 120
    Cumulative Payments $12,315.47 $13,834.03 $16,870.98
    Total Interest Paid $2,315.47 $3,834.03 $6,870.98
  • Review Terms and Conditions
    • Carefully review the terms and conditions of any loan, either federal or alternative, to help avoid high interest rates and fees you may regret when it's too late.
    • Remember, a loan must be repaid. Selecting a loan without the best terms could end up costing you significantly more than it should. UAA cautions students that loan debt can accumulate quickly and may result in a lifetime burden of high payments and credit denials for expenses like automobile purchases, credit cards, and home mortgages. To avoid these problems, read and understand the terms and conditions of all loans.
    • Students should avoid lenders that do not require UAA certification of their loan application and, in general, should be suspicious of unsolicited loan offers. 
  • Comparison between Federal and Alternative Loans

    Federal Student Loans

    Private Student Loans

    The interest rate is fixed and is often lower than private loans — and much lower than some credit card interest rates. View the current interest rates on federal student loans.

    Private student loans can have variable interest rates, some greater than 18%. A variable rate may substantially increase the total amount you repay.

    Undergraduate students with financial need will likely qualify for a subsidized loan where the government pays the interest while you are in school on at least a half-time basis.

    Private student loans are not subsidized. No one pays the interest on your loan but you.

    You don’t need to get a credit check for most federal student loans (except for PLUS loans). Federal student loans can help you establish a good credit record.

    Private student loans may require an established credit record. The cost of a private student loan will depend on your credit score and other factors.

    You won’t need a cosigner to get a federal student loan in most cases.

    You may need a cosigner.

    Interest may be tax deductible.

    Interest may not be tax deductible.

    Loans can be consolidated into a Direct Consolidation Loan.  Learn about your consolidation options.

    Private student loans cannot be consolidated into a Direct Consolidation Loan.

    If you are having trouble repaying your loan, you may be able to temporarily postpone or lower your payments.

    Private student loans may not offer forbearance or deferment options.

    There are several repayment plans, including an option to tie your monthly payment to your income.

    You should check with your lender to find out about your repayment options.

    There is no prepayment penalty fee.

    You need to make sure there are no prepayment penalty fees.

    You may be eligible to have some portion of your federal student loans forgiven if you work in public service. Learn about the Federal Student Aid loan forgiveness, cancellation, or discharge programs.

    It is unlikely that your lender will offer a loan forgiveness program.

    Free help is available at 1-800-4-FED-AID and on our websites.

    The Consumer Financial Protection Bureau's private student loan ombudsman may be able to assist you if you have concerns about your private student loan.

  • Alternative Loan Code of Conduct

    UAA is unable to provide guidance as to which alternative loan best meets your specific needs and does not endorse or recommend any alternative education (private) loan company. The University of Alaska Anchorage receives no benefits from any lender.

    The University of Alaska is committed to providing the best possible customer service to our students and their families. Keeping within the federal requirements, it is our goal to provide information and advice, determined solely by consideration of the best interests of our students. To ensure students and their families continue to receive sound and impartial advice from the financial aid personnel, and to avoid the potential for, or appearance of, conflicts of interest regarding student loans, the **University of Alaska** shall abide by the Code of Conduct in its relationships with lenders, guarantors and servicers or education loans. It is the intention of the **University of Alaska** that this Code of Conduct complies with the letter and spirit of the Higher Education Act, as amended by the Higher Education Opportunity Act of 2008.

    • Neither the University of Alaska as an institution, nor any individual officer, employee or agent of the University of Alaska, shall enter into any revenue sharing arrangements with any lender.
    • An officer or employee of the University of Alaska who is employed in the financial aid office or who otherwise has responsibilities with respect to education loans, or an agent who has responsibilities with respect to education loans, shall not accept from any lender or affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans.
    • The University of Alaska does not have a preferred lender list and, therefore, will not use a preferred lender list to deny or otherwise impede a borrower’s choice of lender. Financial aid staff members will not refuse to certify, or delay certification of, any loan based on the borrower’s selection of a particular lender or guaranty agency.
    • The University of Alaska shall not request or accept from any lender any offer of funds to be used for private education loans, including funds for an opportunity pool loan, to student in exchange for the institution providing concession or promises regarding providing the lender with:
      • a specified number of loans made, insured, or guaranteed under Title IV;
      • a specified loan volume of such loans; or
      • a preferred lender arrangement for such loans.
    • The University of Alaska shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing.
    • Any employee who is employed in the financial aid office, or who otherwise has responsibilities with respect to education loans or other student financial aid, and who serves on an advisory board, commission, or group established by a lender, guarantor, or group established by a lender, guarantor, or group of lenders or guarantors, shall be prohibited from receiving anything of value from the lender, guarantor, or group of lenders or guarantors, except that the employee may be reimbursed for reasonable expenses incurred in serving on such advisory board, commission, or group.