Student borrowers typically do not have any say over who their federal student loan servicer will be. As with any financial organization, AES has received many reviews from student borrowers around the country. American Education Services is one of a limited number of organizations approved by the Department of Education to service federal student loans, which speaks to the quality of the services that it provides.
Though American Education Services excels in many areas as a servicer, there are some areas where it could stand to improve:. Borrowers whose loans have converted to AES should immediately visit the AES website to view all of the options and information available.
A defining characteristic of AES is that it has continuously evolved to meet the needs of its borrowers. You can reach AES online, by phone, or by mail. Their hours of operation are Monday through Friday, from am to pm ET. Email In order to ensure borrower privacy and security, AES requires you to sign into your account in order to send a secure email to AES representatives. Phone You can reach AES by phone at Box Harrisburg, PA Social Media In addition to using their social channels to publish and distribute valuable, informative content with a goal of educating and empowering borrowers, you can reach out to AES representatives via its social channels: Facebook Twitter.
American Education Services AES is a student loan servicer with more than 50 years of experience helping borrowers to manage and pay off their student loans. That being said, there are countless reasons that college graduates whose loans are serviced by AES may decide to refinance or consolidate their loans with another lender.
Get Started Now About the author Credible Staff The goal of the Credible editorial writers and staff is to help our readers get up to speed on issues surrounding student loans, mortgage, and personal finance, so you can make informed decisions. Student Loan Refinancing , Student Loans. Advertiser Disclosure. What is American Education Services? What does American Education Services do? In addition to managing and collecting payments from borrowers, AES performs a number of other essential duties including: Helping borrowers manage and change payment due dates Supporting various federal income-driven repayment plans in addition to the Standard Repayment Plan Qualifying borrowers for student loan discharge and forgiveness Helping borrowers to understand their options for deferment and forbearance in the event that they cannot afford to make payments Making AES Student Loan Payments Operating You Can Deal With It , which offers easy advice on how to deal with common financial situations for college students and recent graduates.
Forgives part or all of your educational loan debt, provided you fulfill certain work-related requirements Loan Discharge Your school: Closed Falsely certified your ability to benefit from education Signed your name without your authorization Failed to pay a tuition refund Dismisses your monthly loan payments and refunds payments you have already made Total and Permanent Disability You can't work for pay when the work involves significant physical or mental activities. You are a veteran who has been determined to be unemployable due to a service-connected condition.
You make qualifying payments on an eligible repayment plan. Forgives the remainder of your Direct Student Loan balance after you make qualifying payments under an eligible repayment plan, while employed full-time for a qualifying public service-organization Death You the borrower die, then your loans may be discharged.
You are a parent PLUS loan borrower, then your loan may be discharged if you die, or if the student on whose behalf you obtain the loan dies. Department of Education.
Financial Aid. Other Resources. Other Calculators. Online Degrees. Online Colleges. Paying For Online Education. Katie Taylor Updated: February 3, What is refinancing? Only you can say whether you should refinance, but refinancing does have some big benefits: The significant cost savings of a lower interest rate. The ability to consolidate multiple loans into one so that you're only responsible for making a single payment. The option to further reduce your interest rate by signing up for automatic payments.
The flexibility to choose among a variety of repayment terms and find the one that best suits your needs. Can you refinance federal student loans? Once you've chosen a few to compare, ask these questions: 1. How much will their interest rate save you?
What perks do they offer? You could have the option to: Change your payment term if you need or want to — for instance, to pay your loan off faster or to reduce your monthly payment.
Release a cosigner once you meet the requirements. Make interest-only payments on your loans in certain situations. Do they have any discounts? What's special about them? Some examples: LendKey connects you with over 13, community banks and credit unions so you can find the best rate while supporting local businesses.
SoFi provides access to a community of other career-minded folks and specific programs for entrepreneurs. CommonBond is committed to giving back to the world around them.
How is their customer service? Do they charge fees? Special offers for medical resident and fellow refinance products Fixed rates: 2. View Loan Disclosure. Low interest rates — especially for graduate students No application or origination fees. No prepayment penalties.
Co-signer release program - you can apply for a cosigner release form your loan after 12 months of on-time payments Specialty product for doctors in training with low monthly payment Click here to see more of Splash's offerings and to see how you can save money.
For every loan they fund, they contribute to the education of a child in need Fixed rates: 2. Unemployment protections - If you lose your job or decide to go back to school, you can delay your payments for up to 24 months. Social promise - For every loan they fund, they also contribute to the education of a child in need. Hybrid loan option - Offerings include a year hybrid loan with fixed interest for the first five years, and variable interest for the final five.
Qualification - Borrowers must have graduated at least 2 years prior if they want to apply without a co-signer. SoFi is the leading student loan refinancing provider. Fixed rates: 2.
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