AES Student loans
Basically the cost of a student education is very high. Not everyone can afford it. If you are a student or a parent who have this problem read this aticle very carefully. You may help yourself and your children to acquire a better education when taking a loan.
There are many types of loans created to meet all the needs of the borrower. One of the most interesting loans provider is AES (American Education Services).
The AES Student loans are divided according to the different needs of different group of people.
There are basically four main types of loans offered by AES:
- Stafford Loans - There is no need to asure this loan with the co-singer neither is for the credit-check. The important thing is that student starts to pay off the debt after graduating from school (there is 6-month-long grace given), not during the time of education (if it is at least at the half-time basis). It is expected that student will repay the debt in 10 years, but it is possible to extend this period.
- Graduate PLUS Loan - is a supplementary programme to the Stafford Loan and can only be applied it Stafford Loan has been applied before and came out as not enough supportive. The programme was created for the graduate and professional students. As in the above mentioned programmes prepayment is possible, interest fees can be a subject of a tax deduction, and payment option can be agreed individually.
- Parent Plus Loans - for parent who pay for the education of their children. It covers expenses for the tuition, room, board and any other charges connected to the education. The main advantages are no income requirements or possibility of agreeing for flexible payments option or an opportunity to pay off the debt earlier with no consequences. Poor credit doesn't disqualify the parents.
- Alternative Student Loans - They usually have higher interest rates, fees, and less repayment options to choose, co-signer may be obligatory, which is because these loans does not belong to the federal funds. They can be granted only, if any other financial options have already been used and they have not covered all college expenses (including scholarship, grants, and federal loans). Alternative Loans are also dedicated to those who had difficulty with meeting the requirements of standard federal loans (Stafford Loans, Parents PLUS or Graduate PLUS).
Each of the AES Student Loans mentioned above is described in more detail on the pages of our portal.
American Education Services (AES)
American Education Services is an organization that enables students to get a low- interest loans for educational purposes. This is a department of Pennsylvania Higher Education Assistance Agency. It has been founded in 1964, when it has only given 4,600 loans to the students. At the moment it is one of the largest aid agency in the United States that is active in the whole country.
The AES at the beginning of its activity in the 60’s was only a small student loan guarantor, but now is one of the biggest and the most known financial aid organization in the United States of America.
The general aim of this organization is to enable the access to higher education, whose who could not effort it without any external financial support.
AES (PHEAA) is in the top ten loan volume of guarantors in America. It is a non-governmental agency and the board of directors consisting mostly of Pennsylvania General Assembly with one appointee - a college president. The organization does not possess any representative or ombudsman for student interests and there is no formal financial aid professional.