So many students who have recently graduated are tangled in a web of federal and private student loans. This can be very easy to get bogged down with, and many student aren't aware of how easy it can be to get out. There are programs, like AES student loan consolidation, that offer sensible ways to get out of student debt, regardless of whether the loans were private, federal, or something else entirely.

AES student loan consolidation offers services to a number of people. You can consolidate loans if you are currently paying your loans, are a recent graduate, or are a parent who is facing a PLUS loan.

Of course, with an AES loan consolidation program, only federal student loans can be part its Federal Loan Consolidation program. In order to qualify for consolidation, a debtor must not be in default of such loans. A previous a federal loan consolidation can be incorporated into a federal AES student loan consolidation if you acquired additional loans (federal and educational) since your last consolidation.

There is one benefit to student debtors whose credit is affected by their loans in that their credit rating does not affect their eligibility for the AES consolidation program. They do not even have to be employed or find a co-signer to qualify to get the loan.

There are arguments both for and against loan consolidation, but there is one very obvious benefit. With one of these consolidation loans, rather than worry about repaying multiple loans with multiple interest rates, you only repay one loan and one rate. All of your loans are condensed into one fixed rate loan lasting a period of a fixed number of years.

The fixed interest rate is locked in for the entire term of the loan. Many student debtors choose these loans because there is a considerably longer time period within which to repay, and the monthly payments are ultimately lower than paying multiple loans or seeking consolidation from some other places.

Federal AES consolidation does not affect your credit rating. It does not change your ability to pay your loan off early without accruing a penalty, or hinder your ability to obtain deferment or forbearance if you have to.

The current grace rate on AES federal consolidations is 6.62%. The interest rate on a federal loan consolidation is the average of all your loans rounded the nearest one eighth percent. The interest rate will vary from one loan to another, but will never be greater than eight and a quarter percent.

During your loan's grace period, you get 60% off on your loan's interest rate. Loans that are automatically paid via debit payments get an automatic .25% reduction in the rate. Also, there are no upfront fees to be paid by the loaning party.

For private student loan consolidations, loans must be either be in repayment, in deferment, in forbearance or grace period. To be eligible for a private AES loan consolidation, the private loans must total at least $7,500. Interest rates can vary monthly or quarterly - depending on the program chosen. Unlike in federal AES loan consolidation, the incentives on a private student loan consolidation vary depending on your lender. And, based on his or her credit score, a loaning party need not pay any fees.

AES student loan consolidation, whether private or public, takes about six to eight weeks to complete. The payment period can last up to 30 years.