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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.
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Should I Borrow Extra Student Loans to Maximize Forgiveness?

If student loan forgiveness is your plan to pay off your student loans, borrowing extra might seem harmless. However, there are a few major risks.

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taking a close look at Sallie Mae Smart Option loans

Sallie Mae Smart Option Private Student Loan Review

Sallie Mae loans almost always have a cosigner and the rates offered range from excellent to truly awful.

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plan B on student loan forgiveness for all

Eight Alternatives to Student Loan Forgiveness for All

Student loan forgiveness for all and debt cancelation are controversial solutions to a major problem. Other options might not be as helpful, but could be easier to make a reality.

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next step

Out of Deferments and Forbearances? What to do next…

If a deferment or forbearance isn’t available on your student loans it is time to explore some more creative options to keep payments affordable.

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clock money home

Refinancing a Mortgage for Student Loan Borrowers

Student loans are an obstacle for borrowers that want to refinance their house, but there are ways to get student loans ready for the application.

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The Four Big Risks when Planning for Student Loan Forgiveness

Chasing after student loan forgiveness is a great way to eliminate debt, but it comes with some major risks.

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Student Loans, Early Retirement and the FIRE Movement

Student loans make early retirement an even bigger challenge, but it is still possible for borrowers to aggressively save for retirement.

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PSA: Loan Servicer Deferment Advice is Often Wrong

Loan servicers like to suggest deferments for struggling borrowers, but this suggestion is often good for the lender and bad for the borrower.

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borrow holds terms and conditions

Student Loan Refinance Contracts: Terms to Avoid

Borrowers should pay close attention to the specific terms of their student loan refinance agreement.

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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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