Anchorage is a great place to live, but not a great place to go to school. The university has trouble attracting and retaining good professors (probably because of it's location) and the faculty turnover rate is too high. Unfortunately, I found the bureaucracy to be almost unbearable, and compared to every other school I have ever attended (2 others) the staff at admissions are not the slightest bit helpful.
University of Alaska Fairbanks is a much better school than UAA.
Chancellors at the College of William and Mary have included some very famous retired statesmen, including Margaret Thatcher (UK Prime Minister), Henry Kissinger (US Secretary of State), Warren E. Burger (US Chief Justice), and, currently, Sandra Day O'Connor (US Associate Justice).
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The MyPlan.com Financial Aid Guide provides detailed step-by-step advice on getting financial aid for college.