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

These repayment plans may be available to you on your federal/Title IV loans.

Repayment Plan Details
Level
  • The 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
  • Borrowers can make smaller payments, typically at the beginning of the repayment period.
  • The monthly installment amount varies during repayment.
  • The monthly installment is:
    • Typically interest-only for a limited time.
    • A payment that is smaller than a level payment.
Income Sensitive
  • The monthly installment amount is based on monthly gross income and student loan debt.
  • To apply for this repayment plan for the next 12 months:
    • Download and complete the Income Sensitive Repayment Form (30 KB PDF).
    • Submit documentation (paystubs) of your most recent total monthly gross income from all sources.
New Income-Based (IBR)
  • IBR helps borrowers who may be experiencing financial hardship manage their monthly payments.
  • The repayment period may extend past the standard 10 years.
  • IBR offers loan forgiveness to borrowers who have made 300 qualifying payments on/after July 1, 2009.
  • To qualify:
    • 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 (93 KB PDF).
    • If your account is in deferment or forbearance, include with your application a request to end the deferment or forbearance. This must occur before you can be approved for IBR.
    • If you have paid ahead on your loans, please ask that this status be removed when you submit your request for IBR.

Learn more about IBR at studentaid.ed.gov.
25-Year Extended
  • Borrowers can make smaller monthly payments by extending the repayment period to 25 years, as opposed to the standard 10-year repayment period.
  • This option is available only to borrowers with:
    • Loan(s) that were first disbursed on/after October 7, 1998.
    • A current loan balance of $30,000 or higher.

If you would like to explore a different repayment plan for your Title IV loan(s), please contact Loan Servicing. Our customer service representatives will be happy to explain your options to you.

If your Title IV account is delinquent by 60 days or more and you need to make immediate payment arrangements, please contact Default Collections.

Alternative (Private) Loans

If you would like to explore a different repayment plan for your alternative (private) loans, contact us to discuss the options available to you.


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