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April 2009

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Stephanie Butler - Director of Program
Operations
Sheryl Hales – Asst. Director of Program
Operations, Loan Servicing Officer
Fred Tolbert – Loan Servicing Supervisor
Kris Cole – Customer Service Officer
Joann Rieselbach – Program Coordinator,
School Liaison

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ACPE and ASLC
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Challenges and Options
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Solutions: Financing and Program Changes
ASEL – Changes for PY 2010
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The NEW ASLNet
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Customer Service Call Center
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School Liaison & Grant Program

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 Promote, support, & provide access to and success in postsecondary education for Alaskans, through:
 Outreach and early awareness programs
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Financial aid for postsecondary education & training
Advocacy for postsecondary participation in Alaska
Education consumer protection through Institutional
Authorization
 To meet this mission, ACPE and ASLC offer
AlaskAdvantage Programs, providing programs and services without cost to the State.

Alaska Student Loan Corporation – Lender 826966
 Finance loans through tax-exempt bonds and loan repayment
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Set interest rates & borrower benefits based on program costs
Manage assets and resources to ensure long-term program sustainability in a business environment
Alaska Commission on Postsecondary Education
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Advise on and establish policies for state financial aid programs
Approve postsecondary education institutions operating in
Alaska
Deliver programs and services to Alaskans
Represent stakeholder interests
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Offer ongoing value-added programs and services for Alaska students, present and future, to increase their access to the benefits of higher education
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Be self-sustaining for the long-term by deploying a business model for operations while meeting public policy goals

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1.
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Secure alternative source of financing until assetbacked securities markets recover, without
General Fund draw or high cost to students
Loan from state (secured & repaid with interest)
Prioritize programs for internal funding
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Structure programs to be marketable securities in the new economic climate and still keep costs low
Credit assessment changes
O-fee changes

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680 credit score requirement for ASEL borrowers and cosigners
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5% origination fee
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OFAC/Red Flag Identity Theft checks to be conducted in accordance w/ ACPE’s Identity
Theft Prevention Program

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Borrowers required to complete new ASEL MPN for PY 2010
All ASEL
MPN’s will be inactivated
Letter sent to PY 2009 ASEL borrowers advising of requirement to complete new MPN
Cosigner application modification
Important to note that Stafford MPN process remains the same
* New ASEL MPN’s available in early May, 2009.

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Applicant completes ASEL app on ASLNet – ETA for “new”
ASLNet is 6/20/09
E-signs app - 2 options to authenticate identity (STAN or public record database)
“Real-time” credit check on e-signed apps
Certification requests to school will not generate until credit approval
Loan awarded and disbursements scheduled upon return of school cert (if no cert w/in 90 days, credit rechecked)
In cases of denial, applicant has option to request a prompt be sent via e-mail to potential cosigner
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Automated cosigner process created to accommodate anticipated increase
Cosigner receives e-mail prompt
Cosigner has same e-sign authentication options
“Real-time” credit check performed
Notarization not required on e-signed apps
Cosigner can track loan status on ASLNet through life of loan
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Focus is to provide a positive experience for our customers
Repayment Options available for customers that are experiencing financial difficulties
Recognition for military personnel that provide service to our country through interest subsidies during certain military deployment situations
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Call Center structure
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Proactively provide staff with information, tools and training to ensure quality service
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Work with School Liaison
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Offer single point-of-contact for Financial Aid staff
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Provide support throughout entire loan process
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Keep FA staff up-to-date with agency planning and policy changes
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Work with schools so students make sound and informed financial aid decisions

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Sets up School Processing profiles
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Able to expedite processing, in certain areas (H/R)
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Will provide customized training upon school’s request
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No question too small!
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In Alaska:
269.7970 (Anchorage) or 907.465.6779 (Direct)
Lower 48:
866.427.5638 (Toll-Free)
E-mail:
SchoolRep@alaska.gov
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Need-based (not first-come, first-served)
No separate application – FAFSA only
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Allows Alaska to participate in federal LEAP program
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Recognition of needy students most likely to succeed
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Recognition of state workforce development goals
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(cont.)
Student Eligibility Requirements:
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Alaska resident attending eligible Alaskan institution
High school grad (or GED)
Admitted into a first undergrad degree or certificate program (no prior Bachelor’s Degree)
Enrolled at least half time
Financial need of $500 or more
Title IV eligible (FAFSA, SAP, etc.)
Has not received cumulative AEG in excess of $8,000
(lifetime max)
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(cont.)
08/09 Program Year Summary:
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Total Dollars Disbursed = $1,974,778
Total # Students Awarded = 2,113
Average Award Amount = $935
Average Unmet Need = $11,525
* 09/10 Funding Approved by ASLC *
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Stephanie Butler… 907.465.6743 stephanie.butler@alaska.gov
Sheryl Hales……… 907.465.6786 sheryl.hales@alaska.gov
Fred Tolbert……….
907.465.6776
fred.tolbert@alaska.gov
Kris Cole…………..
907.465.6676
kris.cole@alaska.gov
Joann Rieselbach..
907.465.6779
joann.rieselbach@alaska.gov
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