More than 1 in 3 Public Service Loan Forgiveness Applications are Denied

Michael Lux Blog, News, Student Loans 0 Comments

Public Service Student Loan Forgiveness is the centerpiece of many borrowers student loan repayment strategy.  Using this plan, borrowers work for the government or a not-for-profit agency, and after 10 years of making student loan payments, the debt is forgiven… at least that is the plan. Unfortunately, many borrowers who …

Darien Rowayton Bank Announces Creation of Laurel Road for Student Loans

Michael Lux Blog, Consolidation, News, Student Loans 0 Comments

For years Darien Rowayton Bank as been a leading lender in the world of student loan refinancing and consolidation.  Today they unveiled a rebranding effort, advertising their student loan services under the name of “Laurel Road”. [Further Reading: Student Loan Sherpa Reviews Laurel Road] Why the Change? Darien Rowayton Bank …

Trump Student Loan Plan Would Be Devastating to Teachers and Social Workers

Michael Lux Blog, News, Student Loans 3 Comments

This week the Washington Post reported the Trump Administration’s plans for major changes to student loan repayment.  The changes include eliminating the Public Service Student Loan Forgiveness Program, and elimination of all the current Income-driven repayment plans.  Replacing the current income-driven repayment plans would be a plan that requires borrowers to pay 12.5% …

Scam Alert: Robo Calls About Trump Ending Public Service Loan Forgiveness (PSLF)

Michael Lux Blog, News, Scam Alert, Student Loans 0 Comments

We have heard from a number of people who received pre-recorded automated calls, better known as robo calls, about their student loans.  In these calls the recording says that President Trump will be ending the Public Service Student Loan Forgiveness program and the borrowers need to act right away to …

DeVos Puts Navient, FedLoan Servicing Ahead of Borrowers

Michael Lux Blog, News, Student Loans 0 Comments

This week Education Secretary Betsy DeVos withdrew a series of Obama-era protections designed to increase federal servicer accountability and to ensure borrowers get accurate information.  In her criticism of the previous administration’s handling of the student loan servicer contracts, DeVos said, “This process has been subjected to a myriad of …