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What should I know about AES student loans?

I am going to college soon but I am yet to secure a federal student finance loan. It is difficult to make a decision on which loan is most appropriate for me. This is because I am specifically looking for the lowest interest rate student loans that offer higher loan limits yearly.

I would prefer to have a larger single loan than several smaller loans to service when I finally graduate. How would you rate AES student loans? What information should I have before I make an application?

Jan Berry

in Student Loans

1 answer

1 answer

Zach Chandler on March 23, 2018

Please heed my advice friend. This is by far one of the most unscrupulous lenders of student finance loans.  I will proceed to give you my reasons for saying this:

  1. You cannot be able to withdraw your co-signer from an AES student loan.   This is despite having on-time payments for several years. They simply will not let them off! The only way you can remove your co-signer is by wholly repaying your loan or by consolidating the loan with another lender.
  2. Delayed communication: When you post a query to this company, be sure to wait for 48 hours in the least before getting a response from them. And when the response comes, it simply does not give any meaningful guidance or direction. Their feedback is shallow and devoid of meaningful information. The answers are often vague and not actionable. It is like they lack a mechanism to show them your previous correspondence.
  3. They can block your account without a valid reason. Recently, my father, an authorized user on my account, called them to find out about the loans he pays for me automatically. This incident prompted them to block my account! Horrible company!
  4. They will not accept your forbearance request: I tried making a forbearance application to this company but it was all in vain. This was so even after I provided documents that they had requested for such as the Job Exit Letter and the EDD Letter. This was because my position ran until the year end. On the other hand, a friend of mine who had secured a loan from another lender was successful with her forbearance application. In my case, this company claimed that the information I provided was not enough to indicate unemployment!
  5. High interest and other charges: I borrowed $20K as a student from AES.  To date, I have paid an excess of $25K of interest and other loan charges. However, I am still on the hook since I owe a further $10K. I do not even understand how they come up with their interest and principal.
  6. Failure to apply payments: There was an incident where AES did not apply my repayment! I sent a payment after which they cashed the checks but did not apply the same on my loan.

I would like to recommend companies that offer lower interest rates student loans.

  1. Navient,
  2. SoFi.

Jordan Soto2 years ago

I am in total agreement with the respondent. Do not go for AES student loans.  They will offer you nothing but misery and frustration.

In my case, the people at AES keep changing my monthly repayments and also keep me from accessing my account. Additionally, they provide misleading and wrong information on purpose. This is the intention of making you make late repayments.

AES notoriously withhold information from their clients. Whenever you make a request to them, no feedback is provided. Thus, I have unresolved issues with my account for years now. They have been ignoring my calls, hanging up and even dismissive of my concerns and assertions.    This has in turn resulted in my account being charged with dishonest fees which are a result of deliberate figure cooking by the AES.

Stay away from this fraud! This is a company of greedy people who make money from naïve students.

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