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Credit Reporting FAQ

How does American Education Services (AES) report my Current Balance to the consumer reporting agencies?

As of June 30, 2018, AES changed how we report your account’s Current Balance to consumer reporting agencies. Previously, we reported your Current Balance as your principal balance only; presently, we are reporting your account’s Current Balance as your

  • Principal balance,
  • Unpaid accrued interest and
  • Late fees, if applicable.

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Has the way you report my Current Balance to the consumer reporting agencies changed recently?

Yes. Previously, we reported your Current Balance as your principal balance. However, as of June 30, 2018, American Education Services (AES) updated the way we report your Current Balance to consumer reporting agencies to reflect your account’s principal balance, unpaid accrued interest, and late fees (if applicable).

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Why did the reporting change?

Under the Fair Credit Reporting Act (FCRA), we are required to report complete and accurate information. This change provides a more accurate reflection of your account balance.

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Could the reporting change impact my credit score?

You must contact the consumer reporting agencies on how this change may have impacted your credit score. Visit AnnualCreditReport.com to get a free copy of your credit report from each of the nationwide consumer reporting agencies; you can receive a free credit report from each agency once every 12 months. You can also order your free credit report by calling 1-877-322-8228 or by downloading and completing the Annual Credit Report Request Form at consumerfinance.gov/askcfpb/311/how-do-i-get-a-copy-of-my-credit-report.html and mailing it to:

Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281

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Can you change your reporting back to the way it was?

Under the Fair Credit Reporting Act (FCRA), we are required to report complete and accurate information and are prohibited from making courtesy credit adjustments.

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Why wasn’t I notified about the change in how you reported my Current Balance?

We apologize if this change caused you any inconvenience as that was not our intention. We are required to notify the consumer reporting agencies of your Current Balance on a monthly basis.

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