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    AES Loans - How to Pay Them Off 16 ok

     AES Loans - How to Pay Them Off

    Student loans are no fun, especially if you’ve got AES loans like I do. It can seem like you’re stuck in student loan debt purgatory with no way out, but there are actually several ways you can pay off your AES loans as fast as possible and hopefully before retirement age! In this article, I’m going to explain the steps you can take to make this dream come true faster than you might think possible.

    Figure Out Your Loan Amount

    To figure out your loan amount, you need to know the total loan amount and the interest rate. The total loan amount is the full balance of what you borrowed from AES, not just what's remaining after any previous payments. You can find it on your most recent account statement. If you're not sure what it is, call AES at 800-832-4227 and someone will be happy to help. The interest rate can be found on your billing statement or through a quick Google search for AES student loans (but keep in mind that this might be slightly different than the one on your statement).

    The monthly payment is usually 1/12th of the total loan amount.

    Determine Repayment Terms

    One of the best ways to pay off AES student loans is to make a budget and stick with it. You can also use your federal tax refund money on your AES loans. As student loan forgiveness is another option for those who have a large enough balance. Keep in mind that you will need to be on an income-based repayment plan for at least 20 years before you are eligible for forgiveness.

    Know When Payments Are Due

    Paying off AES loans can be as easy as knowing when payments are due. Paying in full is not necessary but it is a good idea to pay more than the minimum balance each month. Interest continues to accrue every month so paying off your loan early will save you more in the long run. If you have questions about AES loans, our customer service reps are available Monday-Friday from 8am-7pm EST and Saturday-Sunday from 9am-6pm EST at 1-800-243-5627. We're happy to help!

    Seek Financial Help if Needed

    Many students are burdened with student loans that they may be unable to pay off. AES offers a variety of loans for different needs that may help alleviate some of the burdens and make your payments more affordable. 

    1. AES loans may have a lower interest rate than federal student loans, saving you money in the long run. 

    2. Aes also has loan forgiveness programs for those who work in public service and teacher professions, which means you could qualify for loan forgiveness after ten years of service (or less). 

    3. AES provides excellent customer service and is very understanding of your situation as a student looking for financial help. 

    4. With all these benefits, it is worth considering an AES loan if you need one!

    Maintain Good Grades in School

    Stay on top of your AES student loans by maintaining good grades in school. If you do get a little behind on loan payments, then you can apply for AES loan forgiveness or AES student loan payment plans. AES loan forgiveness is available to those who are struggling and need help. AES student loans also offer many different types of repayment options that will make it easier to pay back the AES education loans.

    Complete Any Financial Aid Forms

    First, you have to fill out the FAFSA form. This is not only a requirement for AES loans, but it's also a free service that can help you find other sources of funds. You'll want to fill this out as soon as possible so that you can find out if you qualify for other forms of financial aid and scholarships. 

    After completing the FAFSA form, students will be matched with one of four AES loan servicing companies-- AESSuccess, Great Lakes Higher Education Corporation, Navient Solutions, or Nelnet-- and then sent a welcome packet containing additional forms needed for processing their loan. These packets typically contain a promissory note and acknowledgment that the student has completed an entrance counseling session.

    Avoid Defaulting on Your Loan

    Paying off your AES student loan can be done in several ways. One way is to make on-time, full monthly payments while enrolled in school. Another way is to enroll in the AESSUCCESS Loan Forgiveness Program which forgives all or part of a student's loans if they meet certain criteria. They may also be eligible for up to $6,000 in interest relief through the Tuition Payment Assistance Plan if they are enrolled in school and are not receiving federal financial aid. AES services offer an American Education Savings Plan (AESP) which allows parents and students to use any amount of their own money (or money saved from other sources) as a down payment and then defer repayment until the student graduates from college or attends graduate school.

    Choose A Career Path With Good Income Potential

    You don't have to be an actual doctor to work in the medical field and make good money! After being heavily involved with Aes Phyla, I decided that this is a great company. Medical records specialists start out at just under $50,000 per year as their base salary. With higher positions, this increases! Medical assistants make just over $36,000 per year while practicing physicians make around $150,000. Medical specialists can even make up to six figures annually. It's worth it to research these different positions before choosing a career path and committing yourself because the potential for employment with good income potential is there for people of all education levels who are willing to put in some hard work!

    Work Full-Time While Going To School

    Paying off a student loan can seem like an impossible task. Fortunately, AES Education Services has many resources available for its students to make the repayment process more manageable. One of those resources is called AESSuccess Loan Forgiveness. This program allows borrowers who work full-time for ten years following graduation and meet other qualifications, up to 100% of their debt forgiven with no tax consequences. The option is only open for certain schools and subjects, but it's worth looking into. Another helpful tool AES offers its students is payment options that can allow you to stretch out your payments for up to six years after graduation, making them easier and more affordable than trying to pay in full all at once.

    Take Advantage Of Student Discounts

    To pay off AES loans, you must take advantage of all available student discounts. From getting car insurance and utilities with the Student Advantage card to enrolling in auto-pay with an automatic discount on your loan servicer and asking about stipends for volunteering - making the most of any opportunity for a discount will go a long way toward financial success.

    If you're eligible, be sure to opt-in for AESSuccess loan forgiveness as well. This repayment program can help get rid of the remaining balance after 10 years.

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