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Arizona Commission for Postsecondary Education

The Arizona Commission for Postsecondary Education is the state agency charged with the mission of doubling the number of B.A.'s obtained by residents by the year 2020.
To accomplish this goal, the agency is focusing on improving K-12 performance, rather than increasing funding for college education. But there are some programs in place.

Arizona offers the Postsecondary Education Grant Program (PEG) which allows students to receive $2,000 per year for four years to get their B.A.. The catch is that if students do not get their degree within 5 years, the funds must be repaid.

There is also a loan/grant program, the Arizona Private Postsecondary Education Student Assistance Program (PFAP) which offers community college graduates $2,000 each year for two years attendance at an Arizona 4 year school.

If the student does not get their B.A. within 3 years, the funds must be repaid.

The state of Arizona offers no special statewide loans.

All loans are either the standard federal student loans or private student loans .

However, the state does offer tuition grants for targeted professions that can turn into loans.

For instance, there is the: Arizona Medical Student Loan Program

The minimum amount per year is the amount of medical school tuition. A living allowance up to $20,000 is also provided.

The commitment is to work in an underserved area of Arizona for 2 years for a 1 or 2 year grant and 1 year for each additional grant.

If the commitment is broken, the loan must be repaid in full at 7% interest plus liquidated damages. Liquidated damages are in an amount equivalent to the full amount borrowed. (That's twice the amount received, plus interest.)

The state also offers this forgivable loan program:

Arizona's Early Graduation Scholarship Grant

High school students who graduate at least one year early and enroll full-time can receive up to $2,000.

Students who graduate one semester early and enroll full-time can receive up to $1,500.

The commitment made is that the first two years of college must be completed within 36 months of high school graduation.

The student must sign a promissory note saying that if the commitment is broken, the money will be returned.

Only Arizona residents (1 year) and Arizona high school graduates going to Arizona postsecondary institutions can receive this grant.

Arizona has announced a new Loan Forgiveness Program for Math, Science and Special Education Teachers. Undergraduate students who intend to teach in these fields can get loans that are forgivable by teaching in Arizona at the rate of the number of loan years plus one.

Remember to check your Arizona FAFSA deadline and if you need additional funding, consider credit unions when looking for a private loan lender.

Check for additional college grants and scholarships that Arizonans can apply for.

Arizona Commission for Postsecondary Education
Suite 550
2020 North Central Avenue
Phoenix, AZ 85004-4503
Phone: (602) 258-2435
Fax: (602) 258-2483

The Arizona Commission for Postsecondary Education mostly oversees college grants and scholarships rather than state loans for its students. The low maximum amounts available through these programs ensures that Arizona students will have financial gaps that can only be made up through student loans.