AES Student Loan – Loans & Services Offered

September 1, 2011

AES Student Loan

AES Student Loan

If you are not familiar with AES Student Loan, they are a loan servicing company also known as American Education Services, and have been providing student loans since 1964. They are a division of the Pennsylvania Higher Education Asissantance Agency and are one of the largest lenders in the country. AES Student Loan offers studnelt loans, different repayment plans that suite your financial situaion best and other services. First off we will start with a background on their loans offered, which there are 4 different options you can choose from:

  1. Stafford Loans - Loan eligibiliy is not based off your credit score and doesn’t require a cosigner. This option provides subsidized and ubsubsidized student loans and they both offer a 6 month grace period where you do not have to pay loan payments for 6 months after you graduate. These loans have low fixed interest rates and usually require you to pay them back in 10 years, although you can extend the payment period if need be.
  2. Parent PLUS Loans – These loans make it easy for parents of dependable children to take out a loan so that you child can afford college. This option isn’t credit based nor is it income based so it makes acceptance a lot easier. This AES Student Loan option provides parents with flexible repayment guidlines as well as they are not penalized if they choose to pay the loans off early.
  3. Graduate PLUS Loans – These loans are dedicated to all the graduate and professional students who are looking to find loans through AES Student Loan. This option allows you to get tax refunds on your payments as well as lenient repyament guidelines.
  4. Private Loans – AES Student Loan also come in the form of private loans that are there in the event the federal loan options above do not provide you with enough money to afford your tuition. Often times private loans, as you may know, have higher interest rates as well as more times than not are credit based, but they also usually offer larger borrowing terms. AES Student Loan is affiliated with many private student loan lenders that can help you out with financial aid.

AES Student Loan Repayment Terms

AES Student Loan offers 5 different repayment terms for their students, here are the 5 options:

  1. LEVEL – This plan keeps payments the same throughout the entire repayment period.
  2. GRADUATED – Allows one to start paying smaller payments and first and have them gradually increase over time.
  3. INCOME SENSITIVE – This AES Student Loan repayment option is based on your monthly income sum as well as how much student debt you have.
  4. INCOME BASED – With this method, you payment is  calculated at 15 percent of you monthly income. The normal repayment term is 10 years and offers loan forgiveness under certain circumstances.
  5. 25 Year Extended – This AES Student Loan repayment method will extend you loan repyament plan to 25 years for those who have large student loan debt which have to be over 30,000.

Other AES Student Loan Services

  • Student loan consolidation.
  • Online account managment is availble for all borrowers to check payment history, manage their loan details and more.
  • Help when it comes to difficulty in making payments.
  • Up to date information on everything related to school loans.

AES Student Loan – Misc Information

Being that they are based out of Pennsylvania, AES Student Loan offer Pennsylvania residents as well as students who are coming from out of state to attend a school in Pennsylvania the KeystoneBEST Loan Program. This program consists of lower costs for student loans for these Pennslyvania students because the PHEAA pays the one percent federal default fee when it comes to lenders who participate in the KeystoneBEST Loan Program, which this benefit is applicable for students who take out any of the AES Student Loan federal loans above, Stafford, Parent PLUS and Graduate PLUS.



Category: Student Loan Database

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