AES Student loans, also known as AES (American Education Services), can be quite complex, not only for students or potential students, but for their parents as well. While there are many options for students to choose from, there are also a lot of questions that must be answered along the way.
Why You Might Need An AES Student Loan
Both parents and children need to consider how to pay for their dream higher education. It’s a fact that college can be quite costly and this can pose a problem for many families who fear they will lose the dream of a quality education, due to lack of funding.
There are options that should be considered for financing a student’s education. One option is part-time work while a student is attending college.
Many colleges offer work-study programs. However, if a student cannot or is unwilling to pay for college while working, another important option is American Educations Services (AES) student loans.
Their History
AES Student Loans have been around for over 40 years. They are an integral part of many higher education assistance agencies including in Pennsylvania. They provide an array of choices for student loans. These loans help pay for university expenses and living expenses while studying.
Types Of Loans They Offer
AES has four types of loans: Parent Plus, Federal Stafford, Graduate Plus and Alternative Loans. They are available through the Federal Education Loan Program to U.S. citizens, but also to eligible non-citizens.
How You Can Apply
Filling Out A FAFSA Is the First Step
To begin the process of obtaining one of these loans, simply complete a FAFSA (Free Application for Fed. Student Aid). Because these loans are popular, it is best to begin the process of filling out a FAFSA soon after January 1.
What Requirements Are Needed?
Two requirements that must be met are that the student must plan on attending college at least half-time and he or she cannot be in default of any other education loans. However, there is an exception for private loans.
Low Interest Rates To Save You Money
AES Student loans are a good option because they have a low interest rate; usually from 5.6% to 8.5%, depending on the type of loan. They also have a longer repay period with flexible repayment options.
Payment of these student loans is not required when a student is attending school and they have a typical grace period of six months granted to students as a transition period after leaving school.
Furthermore, there is no pre-payment penalty for early payoff.
There are no credit checks, and no co-signer is needed. All of the loans, except the Parent Plus loan, are the sole responsibility of the student.
Get Funding And Start Your Education
While college can be expensive, the benefits are life-long.
Because college is an investment, serious consideration should be given to obtaining an AES Student Loan. The application is free and there may be other programs that you will discover you are eligible for.
If you need help paying for higher education Student Loans, AES might be the answer you are looking for.
