The university says the PB&J payments will benefit the local community to help combat student hunger and address food insecurity.
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Two 16-ounce jars of peanut butter or jelly get a $10 credit, three jars are worth $35 and five jars get a $60 credit.
University officials say that any nut butter can be a substitute for peanut butter. Cashew butter, almond butter, and any flavor jam work as long as the jars are unopen.
The university is partnering with UAA Emergency Food Cache to accept PB&J payments until Nov. 8.
For more information on the program, visit University of Alaska Anchorage's website here.