Aes Student Loans: Are They Right For Me?
If you've been looking into student loans lately
, you may have seen or heard AES student loans mentioned. AES is the abbreviation for American Educational Services, which is a division of PHEAA, The Pennsylvania Higher Education Assistance Agency. This agency has been operating since 1964. It is one of the pre-eminent full-service financial aid institutions in the United States.
Currently available AES student loans include Stafford loans, Parent PLUS loans, Graduate PLUS loans, and several different Alternative loans.
Perhaps the most popular of the AES student loans is the Stafford loan program, which offers these features:
* All federal Stafford loans disbursed between July 1, 2009, and July 1, 2010, are fixed at 6.8% with the exception of the undergraduate subsidized Stafford loan, which carries a fixed rate of 5.6%.
* No co-signer is required
* No credit check required
* No payments while you attend school a minimum of half-time
* Subsidized interest payments for those who meet the income guidelines
* 6-month grace period after you leave school
* No penalties for paying your loan off early
* Take up to 10 years to repay longer with flexible repayment options
To assist parents wanting to pay for their child's education, there is the Parent PLUS program, which features:
* Fixed interest rate of 8.5%
* Borrow the difference between your childs cost of attendance and financial aid award
* No income requirements
* Poor credit? May still qualify with credit-ready endorser
* Payments on interest can be tax deductible
* No penalties for paying your loan off early
* Flexible repayment options
And, there are AES student loans for graduate students needing to fill the gap between financial aid and school costs. This program is called the Graduate PLUS loan, and it features:
* Fixed interest rate of 8.5%
* Borrow the difference between your cost of attendance and financial aid award
* No required payments as long as you attend school at least half-time
* No income requirements
* Weak credit? May still qualify with credit-ready endorser
* Payments on interest may be tax deductible
* No penalties for paying your loan off early
* Flexible repayment options
Once you have checked into and applied for grants and scholarships, received a federal Stafford and/or PLUS loan, and still are coming up short to cover costs for college, AES offers Alternative loans that can supplement federal student aid to complete your college funding.
AES also handles federal loan consolidation. Federal student loan consolidation allows you to combine one or more of your student loans into a single new loan. If you're having trouble making your monthly student loan payments, then consolidation might be the right option for you.
Whether you're an undergraduate or a graduate student, with good credit or poor credit, you are almost sure to find that one of the AES student loans fits your situation.
by: James Sopher
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