Repayment Options
Start out on the right financial foot by selecting a repayment plan that works for you.
AES offers several repayment options so you can afford to make your monthly student loan payments on time.
Federal/FFELP (Title IV) Loans
Below is a list of the repayment schedule options that may be available to you on your Federal/Title IV loans.
| Repayment Plan |
Details |
| Level |
- Monthly installment amount remains the same throughout repayment.
- Small changes in the monthly installment amount may occur for variable interest rate loans if the annual interest rate increases.
|
| Graduated |
- Allows borrowers to make smaller payments, typically at the beginning of the repayment period.
- Monthly installment amount varies during repayment.
- Monthly installment is:
- Typically, interest-only for a limited period of time.
- A payment that is smaller than a level payment.
|
| Income Sensitive |
- Monthly installment amount based on monthly gross income and student loan debt.
- To apply for this repayment schedule for the next 12 months:
- Download and complete an Income Sensitive Application (30 KB PDF), and
- Submit documentation of your most recent total monthly gross income from all sources (i.e. Pay Stub).
|
 Income-based (IBR) |
- Helps borrowers who may be experiencing financial hardship manage their monthly payments.
- May extend the repayment period past the standard 10-years.
- Offers loan forgiveness to borrowers who have made 300 qualifying payments on/after July 1, 2009.
- To qualify for IBR, your initial monthly payment amount on all of your eligible loans calculated on a standard 10-year repayment plan must be more than 15% of the difference between your adjusted gross income and 150% of the poverty line for your family size.
- To apply, download and complete the Income-based Repayment Plan Request Form (111 KB PDF).
- Learn more about Income-based Repayment at studentaid.ed.gov.
|
| 25 Year Extended |
- Allows borrowers to make smaller monthly payments by extending the repayment period to 25 years, as opposed to the standard 10-year repayment period.
- Option only available to borrowers with:
- Loan(s) that were first disbursed on/after October 7, 1998, and
- A current loan balance of $30,000 or higher.
|
If you would like to explore a different repayment schedule for your Title IV loan(s), please contact our Loan Servicing department. Any of our customer service representatives will be happy to explain your options to you. If you prefer to have your questions answered via email, please use the Live Online Contact feature.
If your Title IV account has already become delinquent by 60 days or more and you need to make immediate payment arrangements, please contact our Default Prevention department.
Private/Alternative Loans
If you would like to explore a different repayment schedule for your private/alternative loans, you will need to contact our Customer Service Representatives to discuss any options available to you.
