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.
Correspondingly, can AES loans be forgiven?
Can AES student loans be forgiven? 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.
Keeping this in view, how can I get rid of student loans fast?
9 ways to pay off your student loans fast
- Make additional payments.
- Establish a college repayment fund.
- Start early with a part-time job in college.
- Stick to a budget.
- Consider refinancing.
- Apply for loan forgiveness.
- Lower your interest rate through discounts.
- Take advantage of tax deductions.
Is AES a federal loan?
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.
Is AES National Collegiate Trust?
AES was established by the Pennsylvania Higher Education Assistance Agency (PHEA), which is the nation’s second largest student loan servicer. … In the private loan marketplace, AES is one of the primary servicers for National Collegiate Trust (NCT).
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.