Are Aes Student Loans A Good Deal?
If you have been looking up student loans for any time at all
, you possibly have seen or heard AES student loans mentioned. AES stands 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 major full-service financial aid institutions in America.
AES student loans that are currently available include Stafford loans, Parent PLUS loans, Graduate PLUS loans, and various 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 needed
* No credit check is 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 when you leave school
* No pre-payment penalties
* Take up to 10 years to repay longer with flexible repayment options
For parents who wish to pay for their child's education, there is the Parent PLUS program, which features:
* An 8.5% fixed interest rate
* 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 may 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 payments required while you attend school at least half-time
* No income requirements
* Bad credit? May still qualify with credit-ready endorser
* Payments on interest can be tax deductible
* No pre-payment penalties
* Flexible repayment options
After you have looked into and applied for grants and scholarships, received a federal Stafford and/or PLUS loan, and still are shy of covering all costs for college, AES offers Alternative loans that can supplement federal student aid to round out your college funding.
AES also handles federal loan consolidation. With Federal student loan consolidation you can combine one or more existing 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.
If you're an undergraduate or a graduate student, with good credit or poor credit, you'll probably find that one of the AES student loans fits your situation.
by: James Sopher
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