Latest Posts
Home > Ask The Get Out of Debt Experts > I Would Like to Try and Consolidate My AES Private Student Loans. – Tara

I Would Like to Try and Consolidate My AES Private Student Loans. – Tara

“Dear Steve,

I graduated college in 2008 with a total of $107,000 in private student loans through AES, 1 loan for each year of college totaling 4 loans in total. Now I am having a lot of trouble paying my monthly installments and I have already used up every drop of forbearance, deferment, or payment program that AES offers.

I would like to try and consolidate the loans but because they are private and my credit is so bad due to not being able to pay very much on the student loans right now, I can’t get any lender to help me. My cosigner for the loans just filed bankruptcy and can’t help me. As it stands my monthly payment amount for the 4 loans is more than I even bring home each month!!

What options do I have for trying to consolidate my private student loans if I have HORRIBLE credit, and is there any way I can apply for grants or other free money for college after I graduated that I can use to pay off some of the private loan debt?



Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here

The Answer

Dear Tara,

Private student loans suck!

There are few, if any options available. Private student loans do not offer any of the government backed student loan payment reduction options.

The best I’ve seen people do is find a new lender to generate a new loan at better terms. Unfortunately based on what you shared that’s going to be tough.

Please post your responses and follow-up messages to me on this in the comments section below.

Big Hug!

I Would Like to Try and Consolidate My AES Private Student Loans.   Tara
Get Out of Debt Guy – Twitter, G+, Facebook

If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.

I Would Like to Try and Consolidate My AES Private Student Loans. - Tara by

Share This and Spread the Word

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Andi Kim
  • Andi Kim

    Hey Tara,  I am in the same boat and even graduated the same year.  My AES loans sum to about $110,000 and I have 7 separate loans.  I am not sure what your interest rates are but mine are between 4% and 8% and my minimum payment per month is $507 for those loans.  I just posted this on another post, but there are a few places still consolidating private student loans (… 
    I’m working on an application for CUStudent loans.), but typically only up to $100,000.  It sounds like it might be hard, but try to find someone who is able to cosign for you.  The best interest rate I have seen is 4.75% with the average around 8%.  Consolidating will definitely bring down your payment and hopefully give you a better interest rate too. 

    Good luck, i’m sorry I don’t have any better advice.


  • JenL

    I am in a similar situation. Would you recommend any other lenders? I am with KeyBank now.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.


I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.