Does AES service federal student loans?

American Education Services (AES) is a federal loan servicer that processes FFEL loans. While the FFEL program was discontinued, AES still handles borrowers in repayments, and it also services some private student loans for other lenders.

Do AES loans qualify for loan forgiveness?

The last loan forgiveness program for federal student loans with AES is loan forgiveness under the various income-driven repayment plans. The Department of Education offers 4 income-driven repayment options: Revised Pay As You Earn. Pay As You Earn.

Is AES part of the US Department of Education?

As a student loan servicer, American Education Services handles the billing and other services required for student loans. AES does not originate student loans but instead acquires loans from other financial institutions like the U.S. Department of Education and other private lenders.

Are AES and FedLoan the same?

It’s important to know AES is actually part of a bigger company, PHEAA. The Pennsylvania Higher Education Assistance Agency also operates as FedLoan. So, while AES and FedLoan are separate components, they are both part of the much bigger PHEAA.

What companies give federal student loans?

Best federal student loan servicers — ranked

  • OSLA.
  • Granite State. …
  • HESC / EdFinancial Services. …
  • Cornerstone. …
  • Nelnet. …
  • MOHELA. …
  • FedLoan Servicing (PHEAA) FedLoan Servicing supports various borrowers during repayment, including those who are under the Public Service Loan Forgiveness program (PSLF). …
  • Navient. No surprise here. …
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Is my AES student loan private or federal?

American Education Services (AES) is a federal loan servicer that processes FFEL loans. While the FFEL program was discontinued, AES still handles borrowers in repayments, and it also services some private student loans for other lenders.

How do I submit my teacher loan forgiveness?

To apply for Teacher Loan Forgiveness, you’ll need to submit the Teacher Loan Forgiveness Application to your loan servicer. Your school or educational agency will need to vouch for your certification. If you have multiple loans with different servicers, you’ll need to complete an application for each one.

Can I refinance my AES student loans?

If you have an AES student loan (or loans), you’ve probably wondered how to get a lower interest rate. The bad news: AES will not your lower your interest rate, even if you call and beg. But there’s good news, too. You can refinance your AES student loan through a private lender.

Are Navient loans Federal?

Navient was created in 2014 to take over federal student loan servicing for Sallie Mae after the Federal Family Education Loan (FFEL) Program ended. Chances are, if your student loans started off with Sallie Mae but were later transferred to Navient, then your loan is likely a federal student loan.

Do student loans go away after 7 years?

Student loans don’t go away after 7 years. There is no program for loan forgiveness or loan cancellation after 7 years. However, if it’s been more than 7.5 years since you made a payment on your student loan debt and you default, the debt and the missed payments can be removed from your credit report.

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Can student loans be forgiven after 10 years?

The Public Service Loan Forgiveness program discharges any remaining debt after 10 years of full-time employment in public service. … Term: The forgiveness occurs after 120 monthly payments made on an eligible Federal Direct Loan. Periods of deferment and forbearance are not counted toward the 120 payments.

Is AES legit?

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.

Notes for students