AES Student Loans – Their 4 Different Options

August 27, 2011

AES Student LoansAES Student Loans

AES student loans are offered through a program called the American Education Services who are a loan provider company who offers many different loans depending on what you are looking for. They were established in 1964 and have evolved from a small corporation into one of the largest loan providers in the US. What they are there for is to offer you the money you need when your grants, scholarships and other financial aid just isn’t cutting it as far as having enough money to cover college tuition. Below will be a detailed review of each of the AES student loans as well as the overall pros and cons, so that you can get familiar with them and decide for yourself if AES student loans are ones that you want to utilize for your college tuition.

AES Student Loans – 4 Different Options

STAFFORD AES STUDENT LOANS

This loan option is offered with many benefits to its applicant like:

  • No cosigner needed in order to be eligble
  • You don’t have to have good credit in order to qualify for this loan, so the chances are high when it comes to acceptance.
  • 6 month grace period where you don’t have to pay monthly loans for a 6 month time period.
  • Along with the grace period, you don’t have to pay anything while you are in school, both monthly payments as well as interest until you are finished with school.
  • They offer the opportunity of subsidation.
  • Best of all, you are not penalized if you pay your loan off early

PARENT PLUS AES STUDENT LOANS

  • This loan covers other aspects of college other than tuition like room and board as well as any other fees that deal with you education.
  • You can borrow up to the amount of what you have left in financial aide needed to have enough to pay your tuition.
  • Lenient repayment options.
  • There are no income requirements to qualify.
  • Payments are often considered tax deductable.

GRADUATE PLUS AES STUDENT LOANS

  • There are no income requirments in order to qualify
  • Your interest payments can be tax deductable.
  • Very flexible repayment options are available, providing a program that will suit what you can afford each month.
  • There are no pre-payment penalties.
  • If you have bad credit, you can still qualify with a credit-ready endorser

ALTERNATIVE AES STUDENT LOANS

These come in various forms of private loans, and are not federal funds so they are very different from the above options. Some details about the Alternative Student Loans are:

  • They have higher interest and fees compared to the three options above.
  • The repayment options are a lot less lenient.
  • Are there as a back up plan if you don’t qualify for the first three loans above.

AES STUDENT LOANS – Pros & Cons

As you can now tell, AES student loans can really cater to many different needs for people who are looking for student loans that will enable you to pay for your tuition. To give you an even better feel for what AES student loans have to offer, here is an all encompassing pros and cons list:

PROS

  • Low interest rates, being that they are being loaned with federal funds.
  • Fixed interest rates, meaning they will never change from the minute you obtain the money until your last payment.
  • They are pretty easy to qualify for.
  • Flexiblity of repayment is another great benefit of AES student loans

CONS

  • Although the interest rates are fixed, this can act as a negative because if the average interest rates fall, you are stuck with paying a higher that average interest payment.
  • Bankruptcy is not an option with the first three options.
Category: Student Loan Database

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