American Education Services (AES) is a student loan servicer for Federal Family Education Loan (FFEL) program loans. FFEL loans include Stafford Loans, Unsubsidized Stafford Loans, Federal PLUS Loans, and Federal Consolidation Loans.
Similarly, are AES loans direct loans?
You have eligible Direct Loans: Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans (made to parents or students), Direct Consolidation Loans, and Special Direct Consolidation Loans. You make 120 qualifying payments on an eligible repayment plan.
Similarly one may ask, do AES loans qualify for loan forgiveness?
The private student loans AES services are not eligible for loan forgiveness. But the federal student loans it servicers can be forgiven under different programs offered by the Department of Education.
Is AES a collection agency?
American Education Services (AES) is a student loan servicer and debt collection agency located in Harrisburg, Pennsylvania. They collect government-backed student loan debt. You may see AES listed on your credit report as a collections account. This can happen if you have defaulted on your federal student loans.
Is AES legitimate?
If AES is your loan servicer, you might have gotten something in the mail from them—and not known what it is. You may even have thought it was a scam. But, in fact, AES is a legit loan servicing company. It’s not unusual for people to have thousands of dollars in student debt—and not know who their loan servicer is.
Is AES NCT a federal student loan?
AES services both private student loans and loans under the Federal Family Education Loan program. … In the private loan marketplace, AES is one of the primary servicers for National Collegiate Trust (NCT).
Is AES part of Pheaa?
PHEAA conducts its student loan servicing operations commercially as AES . AES created Account Access to provide a way for borrowers to manage their loans online. … With Account Access from AES , PHEAA can offer you top-notch service and convenience at no added cost.
Is Great Lakes a federal loan?
Great Lakes is a U.S. Department of Education federal student loan servicer.
Is the loan forgiveness program legit?
There are legitimate government programs, such as Public Service Loan Forgiveness, that can reduce or eliminate federal student loans after a certain amount of time. … Borrowers on income-driven repayment plans can get their remaining loans forgiven after they make payments for 20 or 25 years, depending on the plan.
Should I just pay off my student loans?
Yes, paying off your student loans early is a good idea. … Paying off your private or federal loans early can help you save thousands over the length of your loan since you’ll be paying less interest. If you do have high-interest debt, you can make your money work harder for you by refinancing your student loans.
What happened to ACS student loans?
Conduent Education Services (formerly ACS Education Services) was a student loan company that serviced campus-based, private, and federal student loans. It shut down operations September 1, 2019, and all of its loans were transferred to other loan servicers.
What is an interest rate AES?
Fixed interest rates are 2.75% – 6.04% APR (2.50% – 5.79% APR with Auto Pay discount). Starting variable interest rates are 2.13% – 5.89% APR (1.88% – 5.64% APR with Auto Pay discount). Variable rates are based on an index, the 30-day Average Secured Overnight Financing Rate (SOFR) plus a margin.