aesBEST

aesBEST is a low-cost Stafford loan for Delaware and West Virginia students.

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Eligibility

Special aesBEST Stafford loan requirements:

  • Be a Delaware or West Virginia resident attending any accredited school (regardless of location)  or
  • Be an out-of-state resident attending an accredited school in Delaware or West Virginia

You also must meet general Stafford loan eligibility requirements.

Features & Terms

Who Pays
  • The student repays the loan.
  • No payments are required while you attend school at least half-time.

Interest Rates
  • The aesBEST rate is the current Stafford loan rate minus all AES benefits.
  • Your rate could be:
    Current Stafford Loan (fixed): 6.8%
    Automatic direct debit payments: -0.25%
    aesBEST Interest Rate (fixed): 6.55%

Interest Payments
  • Subsidized loans - the federal government pays the interest while you are in school, during your grace period or during any deferment period.
  • Unsubsidized loans - you are responsible for interest payments and can choose to pay them while in school or have them added to the principal balance.

Fees
  • AES will pay the default fee on your behalf.
  • AES and its participating lenders will pay part of the origination fee on your behalf.

Grace Period
  • A 6-month grace period begins when you leave school, graduate or drop below half-time enrollment.

Repayment
  • Take 10 years to pay - longer with flexible repayment options.
  • No penalties for paying your loan off early.

Loan Management

Annual Loan Limits

Annual Loan Limits

Subsidized and/or Unsubsidized Loan

Additional Unsubsidized Eligibility For Independent Students*

1st Year Undergraduate

$3,500

$4,000

2nd Year Undergraduate

$4,500

$4,000

3rd, 4th or 5th Year Undergraduate

$5,500

$5,000

Graduate or Professional Student

$8,500

$12,000

*Or dependent students whose parents are denied a federal Parent PLUS Loan.

These annual loan limits apply to loans disbursed on/after July 1, 2007.

Apply for this Loan

  • No co-signer is required.
  • No credit check is required.

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