One-time origination fee!?
Date: Thu, 12/18/2008 - 16:19
One-time origination fee!?
I was looking into my AES student loan and I inquired why the amount was a little high. This was the response:
Your lender charged a one-time origination fee of $1,914.87 at the
disbursement of your loan.
You are not required to make monthly installments. Though you are not
required to make installment payments, interest will still continue to
accrue. Any unpaid interest will be capitalized onto your account. We in
order to minimize the amount of interest capitalization we will send out
an interest notice to your. Failure to pay on these interest notices will
result in capitalization. We have capitalized the following amounts to
your loans:
11/30/08 $758.78
02/01/08 $995.53
03/15/06 $120.71
10/31/05 $1,756.03"
1. This is the first I'm hearing about an origination fee. Can they do that and not even tell me about it untill now?
2. Does this capitalization look correct to you? Why are the dates so sparatic, and why is one amount so low compared to the others.
Any help would be greatly appreciated. This student loan has me so down because it will take forever before I can actually save for important things like a house.
I'm pretty sure it's a private loan because I have a co-signer.
I'm pretty sure it's a private loan because I have a co-signer.
Origination fees are standard on all student loans. I just look
Origination fees are standard on all student loans. I just looked at the AES website and it says "varies by loans".
Have you read your prom note?
As for capitalization, that should be outlined in your prom note too.
I will try to find my prom note. Can I access on my AES account
I will try to find my prom note. Can I access on my AES account? Unfortunately, I am teaching English in Korea and all my paper documents are at home in Canada. I will let you know if I am able to get hold of it.
Thanks SOAPLADY for all your help and being so quick about it too! It is extremely appreciated!
Hello again
I do not have my prom note here with me in Korea. Can I resquest a copy from AES? I have emailed them but have yet to get a reply.
Can you not have someone check it for you in the US??? They p
Can you not have someone check it for you in the US???
They probably wont sent one to your overseas.
emailing AES is pretty pointless, I've tried numerous times and
emailing AES is pretty pointless, I've tried numerous times and they just don't respond. What you can do, is go to your account on the AES website and assign someone in your family, authorization to communicate with AES on your behalf. They can then call AES and get copies for you.