American Education Services (AES) announced it will be offering a fast and easy PLUS loan process to graduate and professional students available as a result of the changes outlined in the Higher Education Reconciliation Act (HERA).
AES lender partners offer the nation's best benefits to parents and are now extending those savings on to graduate and professional students using the AES PLUS loan process. Graduate and professional students are eligible for PLUS loans certified on or after July 1.
AES has a long history of providing automated PLUS loan processing for parents and is now excited to include graduate and professional students. The Graduate and Professional PLUS loan will supplement borrowers' Stafford loans, saving them thousands of dollars, compared to other private loans.
"We are very pleased to be able to assist graduate and professional students with their education costs," said AES President and C.E.O. Dick Willey. "The PLUS loan offers borrowers many benefits -- including covering the one percent federal default fee on their student loan."
Graduate and professional students and parents will be able to take advantage of the AES Instant Credit Check loan preapproval program either at aesSuccess.org or by calling 1-800-692-7392. Another service offered to our school partners is credit decision results via email to help speed up the certification process. Our PLUS loan process will help supplement our lender partners who offer the nations best PLUS loan benefits.
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AES will subsidize the mandatory federal default fee through at least June 30, 2007, on all Stafford, Parent PLUS and Graduate and Professional PLUS loans. AES has not charged the 1 percent fee on its loans since 1996 when it adopted its Zero Guaranty Fee, saving borrowers nearly $350 million in up-front costs.
Students can also see costsaving benefits through the AES-exclusive relationship with Up-romise. Borrowers can repay their loans faster with the rebates on purchases from the tens of thousands of participating businesses.
Borrowers with AES-serviced student loans can continue to make their everyday purchases and receive rebates that will be automatically applied to their loan balance. To sign up for this free service, visit upromise.com/aes.
For more information on the PLUS loan process and pre-approval, visit aesSuccess.org or call 1-800-692-7392.
