Arkansas Student Loan Authority

What Arkansas Student Loan Authority does

The Arkansas Student Loan Authority (ASLA) is a state-chartered non-profit government entity founded in 1977 and headquartered in Little Rock, Arkansas, that provides private education loans to Arkansas students, families, and graduates. The organization has cumulatively funded more than $1 billion in higher education financing since inception and operates within a statutorily defined franchise: Arkansas residents attending any eligible school, non-residents attending Arkansas institutions, and (for refinancing) Arkansas residents with existing student loan debt. The entity is the only state-affiliated student loan brand in Arkansas and is publicly associated with the State of Arkansas seal.

ASLA offers four loan products on a direct-to-consumer basis: an undergraduate Student Loan (APR 2.74%-7.71%), a Graduate Loan (APR 2.74%-8.35%), a Family Loan with cosigner (APR 2.74%-7.84%), and a Refinancing Loan (APR 3.95%-7.74%). The technology stack is a standard consumer lending web platform: online application, a soft-credit-pull pre-qualification tool, and inclusive underwriting that permits cosigners without a FICO minimum (borrowers require 660+ FICO). Loan servicing is outsourced to the Aspire Servicing Center, indicating an origination-focused operating model with no disclosed in-house servicing platform. ASLA also administers the Woodruff Scholarship Program ($1,000 annually) and an Armed Forces Interest Reduction Program as adjunct services tied to the core lending franchise.

The revenue model is a long-duration net interest spread on a managed loan book, consistent with non-profit state student loan authority mechanics. There are no subscription, interchange, or transaction-based fees, and no marketplace or intermediary revenue. The combination of a statutorily closed geographic franchise, a diversified four-product retail book, a thin in-house operating footprint, and outsourced servicing positions ASLA as a low-overhead, mandate-driven lender rather than a growth-oriented fintech.

Name

Arkansas Student Loan Authority

Legal name

Arkansas Student Loan Authority

Website

https://asla.info

Company type

Private

Founded year

1977

Operating status

Operating

Short description

The Arkansas Student Loan Authority is a state-chartered non-profit founded in 1977 in Little Rock, Arkansas, that provides private student, graduate, family, and refinancing loans to Arkansas residents and students attending Arkansas schools, with cumulative higher education funding exceeding $1 billion since inception.

Ownership category

akta.pro rank

Product category

Education Lending

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Private Student Loans (Undergraduate & Graduate) (FSAKAEAB)

akta.pro secondary industries

Parent & Family Education Loans (e.g., PLUS/private parent loans) (FSAKAEAC), In-School Tuition & Fee Financing (Short-term/Bridge) (FSAKAEAG)

Keywords

• Student loan lending
• Education financing
• College planning services
• Loan refinancing
• Fixed rate loans

Headquarters

HQ city

Little Rock

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Student Loan Interest: ASLA generates revenue through interest charged on education loans it originates and maintains ownership of, including undergraduate student loans, graduate loans, family loans, and refinancing loans.
2. Loan Servicing: ASLA services its loans through Aspire Servicing Center while retaining ownership of the loans. The organization collects interest payments over the life of the loan.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Arkansas Student Loan Authority originates and owns fixed-rate private education loans for Arkansas residents and non-residents attending Arkansas schools, including undergraduate student loans, graduate loans, family loans, and refinancing loans. The Authority also delivers college planning services, repayment assistance, scholarship search tools, and the Woodruff Scholarship program to support Arkansas students pursuing higher education.

Product overview

Arkansas Student Loan Authority operates as a state entity founded in 1977 offering a portfolio of private education loan products and related financial services. The core product suite consists of four loan products: Student Loans for undergraduates (2.74%-7.71% APR), Graduate Loans for graduate students (2.74%-8.35% APR), Family Loans allowing others to borrow on behalf of students (2.74%-7.84% APR), and Refinancing Loans for consolidating existing student debt (3.95%-7.74% APR). These loan products are complemented by College Planning Services (including saving for college, applying for college, financial aid assistance, and scholarships) and Repayment Assistance programs. The company also offers the Woodruff Scholarship program and maintains a pre-qualification process that does not impact credit scores.

Differentiator

Problem solved

Functional benefit

Products and services

• Student Loan Fixed-rate private education loan for undergraduate students with APRs ranging from 2.74% to 7.71%, including auto-debit reduction of 0.25%. Offers multiple repayment options (Immediate, Interest-Only, Deferred) during school enrollment, with loan amounts from $1,001 up to $250,000 cumulative. Inclusive cosigner policy with 660 minimum FICO and cosigner release available after 24 consecutive on-time payments.
• Graduate Loans Fixed-rate private education loan for graduate students with APRs ranging from 2.74% to 8.35%, including auto-debit reduction of 0.25%. Designed to fund graduate or professional school education expenses for Arkansas residents or non-residents attending Arkansas schools.
• Family Loan Fixed-rate private education loan allowing family members or friends to borrow on behalf of a student with APRs ranging from 2.74% to 7.84%, including auto-debit reduction of 0.25%. Loan is held in the borrowing family member or friend's name.
• Refinancing Loan Fixed-rate refinance loan for Arkansas residents looking to consolidate or refinance existing student loans (federal or private) with APRs ranging from 3.95% to 7.74%, including auto-debit reduction of 0.25%. Minimum refinance amount $5,000, maximum $250,000. Offers standard, graduated, and Select 2 Payment repayment plans.
• College Planning Services State-wide college planning service to assist Arkansas students in achieving higher education goals, including guidance on saving for college, applying for college, applying for financial aid, and scholarship search support. Provided as part of ASLA's public mission.
• Repayment Assistance Repayment management services for ASLA private education loan borrowers and federal direct loan borrowers, including access to repayment calculators, automatic debit setup, and support for managing loan repayment through the Aspire Servicing Center.
• Woodruff Scholarship Annual scholarship program providing $1,000 scholarships to incoming and current Arkansas college students. Awarded through completion of The College Quiz interactive tool, with one scholarship renewable for up to 4 years.

Quantifiable outcome

• Over $1 billion in Higher Education Funding provided since 1977
• +4 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• SoFi: SoFi is a large national fintech lender offering private student loans, student loan refinancing, and a broader suite of consumer financial products — competes directly with ASLA's refinancing and graduate loan products with greater scale and brand recognition.
• Nelnet: Nelnet is a major student loan servicer and originator with a diversified education services portfolio — competes in the same student loan origination space as ASLA while also operating a large third-party servicing business that parallels the function ASLA outsources to Aspire.

Emerging players

• Earnest: Earnest is a digital lender offering private student loans and refinancing with a strong technology and underwriting focus — comparable to ASLA in product offering but differentiated by a more sophisticated, tech-driven underwriting model and broader geographic reach.

Direct peers

• College Ave Student Loans: College Ave is a digital-first private student loan lender offering undergraduate, graduate, and refinance products — the same loan portfolio as ASLA but distributed nationally through an online-only channel, making it the closest private-market peer.
• Missouri Higher Education Loan Authority (MOHELA): MOHELA is a state-affiliated nonprofit student loan authority providing FFELP, private, and consolidation loans — directly comparable to ASLA as a state student loan authority operating in higher education finance.
• Iowa Student Loan (Aspire Resources / Aspire Servicing Center): Iowa Student Loan is a state student loan authority offering undergraduate, graduate, and refinance private student loans — same product mix, similar state-entity structure, and notably the same parent operates Aspire Servicing Center, which already services ASLA's loans.
• Kentucky Higher Education Student Loan Corporation (KHESC): KHESC is a Kentucky state student loan authority offering private student loans, refinancing, and college planning resources — a near-clone of ASLA's structure in a different state, with the same mission-driven focus on in-state borrowers.
• Educational Credit Management Corporation (ECMC): ECMC is a nonprofit organization that originates and services student loans and provides college access services — directly comparable to ASLA's nonprofit/state-entity model with similar higher-education access mission and loan servicing capabilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/ASLAhere4u

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arkansas Student Loan Authority