American Education Services Announces the Spring $20,000 Lighten Your Loan Sweepstakes(sm).Sweepstakes Helps Students and Recent Grads Repay College Loans HARRISBURG, Pa. -- American Education Services (AES) announces the start of the spring $20,000 Lighten light·en 1 v. light·ened, light·en·ing, light·ens v.tr. 1. a. To make light or lighter; illuminate or brighten. b. To make (a color) lighter. 2. Your Loan Sweepstakes(sm), an initiative focused on alleviating student loan debt. The $20,000 Lighten Your Loan Sweepstakes(sm) is part of AES' nationally recognized public service campaign, YouCanDealWithIt.com, which emphasizes the importance of repaying student loans, the long-term implications of default, and the importance of overall debt management and financial responsibility. "AES understands that today's students need to utilize loans to help invest in and finance their education and some graduates are not familiar with how to handle such debt," said AES President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Dick Willey. "After the tremendous success of the fall sweepstakes, in which we awarded four student loan borrowers money to pay back their student loans, we are pleased to make the sweepstakes available again this semester se·mes·ter n. One of two divisions of 15 to 18 weeks each of an academic year. [German, from Latin (cursus) s ." AES' Lighten Your Loan Sweepstakes includes four prizes: $10,000, $5,000 and (two) $2,500 FFELP FFELP Federal Family Education Loan Program loan payments to be made towards each winner's student loan balance. The sweepstakes will run from March 15, 2007 through May 15, 2007 and is open to all AES customers holding a FFELP loan guaranteed by AES. Students and recent graduates can enter for a chance to win at YouCanDealWithIt.com. There is a limit of one entry per day per student loan borrower. Bonus entries will be awarded when a contestant refers a friend who also enters the sweepstakes. The four winners will be drawn at random on May 29, 2007. YouCanDealWithIt.com was launched eight years ago in an effort to educate students on debt management and loan repayment and ultimately lower the number of student loan defaults. The nationally recognized campaign has contributed to AES' all-time low draft cohort default rate of 2.99 percent for the 2005 cohort year. The cohort default rate measures the percentage of borrowers who have defaulted on their student loans within 12 to 24 months of entering repayment. The AES rate of 2.99 percent marks a 23.1 percent decrease from the 2004 cohort rate of 3.8 percent. About AES: American Education Services (AES) is among the nation's leading providers of student financial aid services. Each year, AES serves millions of students and thousands of schools through its loan guaranty As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant. , servicing, and financial aid processing systems. As a nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. enterprise with more than $94 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. (1/31/07), AES channels its earnings into a wide array of public service programs and initiatives that help ease the financial burden of higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. . Focused on guaranteeing the next generation of leaders, thinkers and doers, AES is a pioneer of pro-student products such as its Zero Guaranty Fee Policy and low-cost student loans. From early awareness, to managing the financial aid process and sound student debt management, AES is a trusted source of information and advice for students, parents, school counselors A school counselor is a counselor and educator who works in schools, and have historically been referred to as "guidance counselors" or "educational counselors," although "Professional School Counselor" is now the preferred term. and financial aid officers across the country. AES is also the home of the award-winning college-planning site EducationPlanner.org as well the debt management resource YouCanDealWithIt.com. For more information, please visit our Website at www.aesSuccess.org. |
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