American Educational Services offers federal loan consolidation. So are you eligible for AES student loan consolidation? You can, whether you’re in or out of school.

Sure, You Can Qualify, But Only If You Haven’t Consolidated Before

You do, if you’re a recent graduate, a borrower who is already paying back their loans, or a parent who has a PLUS loan. Only federally guaranteed student loans are eligible to be included in a federal consolidation. If you’re still in school, students who are enrolled more than half time are not eligible for federal consolidation. If you’ve graduated in the past six months and you’re still in your federal loan grace period, you are eligible for a lower interest rate on your student loan consolidation.

University costs, and graduate faculty costs, have gone up quicker than inflation. A latest study by the nation’s Center for Education Statistics ( one ) shows that about half of latest school graduate have student loans, with a typical student loan debt of $10,000.

The medium cost of varsity increases at twice the rate of inflation ; the Varsity Board ( two ) guesses that public faculty costs a median of about $13,000 a year and personal colleges costs $28,000.

The days of paying for college in full, without some type of loan or Federal assistance are long gone. More students are graduating college with more debt than ever before. College costs have increased significantly and the consumer’s ability to pay has only changed slightly. As a result, more students owe money upon graduation.

There are a number of pays to pay off your college debt. Fortunately for those who have taken Federal loans, grace periods and deferments can help you until you find a full time job that allows you to begin making payments against your loan. Regardless of your employment situation, the responsibility of loan repayment is yours and yours alone.

Millions of college and university students and graduates have funded their college education using one of many student loan programs. There is no doubt that a college education will provide not only increased income but also more employment options throughout life. However it will require many years to pay off most student loans. It is not uncommon to have student loan payments extend for 20 or more years.

Many of us graduating or who have already graduated from college carry a large financial burden in repaying our student loans. Add in other responsibilities such as rent, mortgage, car payments, maybe even a family and the weight can indeed be very heavy.

Examining options that could help relieve our financial burden is always a good idea. Your student loan is one place to begin.

Colleges and universities use several sources to secure loans for a student. One bank does not typically issue an entire 4-year loan or even a 1-year loan. Usually, it takes multiple funds from various lending institutions to get a student through his college career.