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AES (American Education Services)

Started by MsTgal, June 21, 2016, 07:50:12 pm

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MsTgal

I co-signed on a loan in 2008 through this company.  I have recently tried to negotiate a payoff with them and they replied that  "The amount necessary to pay the loan in full cannot be negotiated."  I have already paid back the amount borrowed but 3/4 of the amount I have paid has been applied to interest and a small amount applied to principal. They will not work with me or even consider a early payoff amount.  This company does not care about its customers, only about how much money they can get. My husband is 70 yrs old and still working, I work as a substitute teacher and we are trying to lower our debt before we can't work anymore.  Stay away from them.

TheCollegeInvestor

Thanks for sharing your stories. Most student loan companies will not ever negotiate a settlement because the laws around student loans always allow them to collect their money - they can garnish your wages, garnish your tax return, garnish your Social Security - and student loans rarely can be discharged in bankruptcy. As such, they have no incentive to settle because they know they will get paid.

MsTgal