interest rates

Measure cuts high loan rates for Alaskans who remain in or return to Alaska

JUNEAU – Today, seven Democratic legislators announced they will pre-file legislation to reduce the high cost of student loans for Alaskans who stay in or return to Alaska. “It is telling that you can get a 2.75 percent interest rate for a used car loan, but pay upwards of 6.5 to 8 percent for job training and college loans in Alaska,” said Rep. Les Gara. Lowering the cost of education and job training for Alaskans helps both students and the state by reducing costs to Alaskans and giving all Alaskans who want to open new career doors the incentive to help improve Alaska’s economy.