Everything you Need to Know About American Education Services
American Education Services or AES is a student loan servicer. It is the only company that services the Federal Family Education Loan Program (FFEL) by collecting and tracking payments. The organization operates under the Pennsylvania Higher Education Assistance Agency (PHEAA). The federal government of the US stopped issuing FFEL loans as of June 30, 2019, so American Education Services now handles only the existing loans.
PHEAA is one of the major providers of student loan services. PHEAA provides student loan services nationally through FedLoan and American Education Services. While Fedloan and American Education Services are sister companies, they are different student loan servicers that operate separately from each other. AES manages PHEAA’s portfolio of private student loans and federal student loans through the discontinued FFEL program. While FedLoan servicing, on the other end, services student loans that are federally owned, including Direct Student Loans.
You can also apply for loan refinancing at the AES. You can get lower loan interest rate through refinance. If you’re having trouble making payments, you can also apply for a longer-term of repayment to decrease the amount of money you have to pay every month.
FFEL program ended in 2010 and is no longer issuing loans, but many borrowers are still repaying the loans which are serviced by American Education Services.
AES can help you with student loan consolidation. They will allow you to consolidate your FFEL loans into direct loan with the federal government. once you’ve consolidated, you will get a new servicer and you can also qualify for Public Service Loan Forgiveness and income-based repayment plans.
Your servicer is the company that has been sending you a federal loan bill every month. They also keep track of all your monthly payments.
If you want to know if AES is your servicer or not, then you can follow these two steps to find out:
- Log into the National Student Loan Data System (NSLDS): This is where all the student records are, including details about federal loans. You can log in with your FSA ID to check out all the details and information, including your student loan balances and history, as well as the servicer assigned to you.
- Check your credit reports: American Education Services reports loan information to credit reporting agencies, so if the AES is, indeed, your servicer, then you will be able to see it listed as such in your reports.
You can also contact American Education Services directly to inquire about your loan information and details. You can also visit My Federal Student Aid to find out about who is your servicer.
FREQUENTLY ASKED QUESTIONS
What is American Education Services?
American Education Services or AES is a student loan servicing company. They manage student loan accounts through repayment, and it is one of the few servicers that is in contract with the department of education to manage the student loan and the private student loan. They don’t lend money themselves; they just help you in the facilitation of loans. The help you by offering loan repayment plans and also by sending you bills for your monthly payment.
What is the American Education Services company id number?
If you want to contact AES, you can do so through any of the following:
AES Phone number: 1-800-233-0557, Monday-Friday, 7:30 AM – 9:00 PM EST
AES Fax: 717-720-3916
AES mailing address: American Education Services, PO Box 2461, Harrisburg, PA, 17105
If you want to email them, you can log into your online American Education Services account and email the customer service team from there to inquire if you’re a borrower or not.
American Education Services where to send deferment?
You can apply for deferment, forbearance or even student loan forgiveness by contacting the AES through their Fax, phone number, or mailing address. It is advised to inquire if your interest will continue to accrue while your loan is on deferment before applying for it.
If you have a federal student loan, you can qualify for deferment by meeting the following requirements:
- Being enrolled at least half-time as a student.
- Experiencing economic hardship.
- Have eligible loans.