The Best Of Both Worlds With AES Student Loan Consolidation

AES student loan consolidation offers consolidation services both for federal loans and student loans for recently graduated students, debtors already paying their loans, and parents who took out PLUS loans.

Of course, with an AES loan consolidation program, only federal student loans can be part its Federal Loan Consolidation program. In order to qualify for consolidation, a debtor must not be in default of such loans. A previous a federal loan consolidation can be incorporated into a federal AES student loan consolidation if you acquired additional loans (federal and educational) since your last consolidation.

Student debtors whose credit ratings were affected by their loans can find some relief in AES student loan consolidation: credit ratings do not affect their eligibility for loan consolidation. They do not need to be employed, or even have someone co-sign their loan to qualify for loan consolidation.

There are many arguments for and against federal consolidation, but the most obvious of the benefits is that a student loan debtor need not worry about paying for multiple loans (with varying interest rates) in a month. A federal AES student loan consolidation organizes your debts into a single loan - you only have to pay the monthly installment for a fixed number of years.

The interest rate on the loan is also fixed and locked in for the duration of its term. Student federal loan debtors ultimately opt for a federal AES loan consolidation because there is a longer period for repayment, and they ultimately pay a lower monthly payment.

Also, federal AES loan consolidation does not affect a debtor's credit rating. It also does not affect their ability to pay off their loans early without penalty, or their ability to postpone their payments through deferment or forbearance.

Interest rates for federal AES student loan consolidation are available at the current grace rate of 6.62%. The interest rate on a federal loan consolidation is the weighted average of all loans rounded to the nearest 1/8 percent. The interest rate will thus vary from one consolidated loan to another, but interest rates will never exceed 8.25%.

During your loan's grace period, you get 60% off on your loan's interest rate. Loans that are automatically paid via debit payments get an automatic .25% reduction in the rate. Also, there are no upfront fees to be paid by the loaning party.

For private student loan consolidations, loans must be either be in repayment, in deferment, in forbearance or grace period. To be eligible for a private AES loan consolidation, the private loans must total at least $7,500. Interest rates can vary monthly or quarterly - depending on the program chosen. Unlike in federal AES loan consolidation, the incentives on a private student loan consolidation vary depending on your lender. And, based on his or her credit score, a loaning party need not pay any fees.

AES student loan consolidation, whether private or public, takes about six to eight weeks to complete. The payment period can last up to 30 years.

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