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Latest Posts in Michael P. Lux, Esq.

Student loan expert Michael Lux is a licensed attorney and the founder of The Student Loan Sherpa. He has helped borrowers navigate life with student debt since 2013. Insight from Michael has been featured in US News & World Report, Forbes, The Wall Street Journal, and numerous other online and print publications. Michael is available for strategy sessions and to respond to press inquiries.

Should I Consolidate My FFELP Loan Right Now?

Between lawsuits and changing rules, its become very difficult for FFELP borrowers to figure out a plan for their student loans.

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Are Mohela Loans Federal or Private?

Mohela services both federal and private loans. Fortunately, there is an easy way to separate the federal loans from the private loans.

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Watch Out for Biden Student Loan Forgiveness Scams

Great news for student loan borrowers has turned into an opportunity for scammers.

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Apply for Biden’s One-Time Forgiveness Right Away

Borrowers have over a year to submit their application, but waiting would be a huge and potentially expensive mistake.

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Four Reasons to Contact Your Federal Student Loan Servicer Right Now

Federal forgiveness programs are set to expire and servicers are about to get slammed. Now is the time to get your federal loans in order.

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Biden Backtracks on FFELP Forgiveness: What Happened and What to do Next

A stunning reversal on policy means that millions of borrowers may now miss out on up to $20,000 of forgiveness.

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The Downside to Income-Driven Repayment Plans Like IBR, PAYE and REPAYE

IDR plans have a ton of borrower-friendly features, including student loan forgiveness. However, they have some flaws that all borrowers should understand.

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Congress Passes Legislation to Separate Spousal Joint Consolidation Student Loans

Borrowers with FFELP Joint Consolidation Spousal loans will soon be able to qualify for PSLF and IDR Plans like REPAYE.

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Some Borrowers Will Get Huge Refunds From Biden Student Loan Forgiveness

Borrowers who paid off their loans in full could receive a refund of up to $20,000.

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  • Tools
    • Old Income-Based Repayment (IBR) Calculator
    • New Income-Based Repayment (IBR) Calculator
    • Repayment Assistance Plan (RAP) Calculator
  • RepaymentPLANS & FORGIVENESS
    • Lower Payments
    • Student Loan Forgiveness
    • Cosigner Issues
    • Repayment Plans
    • Loan Servicers
    • Consolidation
    • Debt Elimination
    • Parent PLUS Loans
  • RefinanceRATES, TIPS & REVIEWS
    • Refinance Reviews
    • Best Interest Rates
    • Lender Comparisons
    • Refinance Strategy
  • Life with LoansMARRIAGE, TAXES & MORE
    • Retirement
    • Home Ownership
    • Marriage
    • Taxes
    • Scam Alerts
  • PlanningSTUDENTS & PARENTS
    • Paying for School
    • Student Loan Reviews
    • Income Share Agreements
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