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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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Can I Convert Navient/Sallie Mae Private Loans Into a Federal Loan?

Converting private student loans from lenders like Navient and Sallie Mae into a federal student loan eligible for forgiveness would be great. Unfortunately, this move is really hard to accomplish.

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scam alert department of education call

Scam Alert: The “Department of Education” called me about my student loans

Student loan borrowers should treat phone calls from the “Department of Education” with a lot of skepticism.

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Financial Lessons to Learn Before College

Personal Finance Lessons to Learn BEFORE College

Learning the hard way is part of college, but some personal finance lessons are especially valuable if you can learn them the easy way.

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Minimum Wage College Job

Can a Minimum Wage Job Eliminate the Need for Student Loans?

Minimum wages don’t go nearly as far as they used to, but they can still make a difference for college students trying to limit debt.

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why did my interest rate go up

Why Did My Student Loan Interest Rate Go Up?

Interest rates going up on a variable-rate loan can be frustrating. However, there are ways to avoid this particular student loan headache.

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magnifying glass looking at the parts representing an income share agreement

Income-Share Agreements Pros and Cons

Income-share agreements are growing in popularity as a student loan alternative. ISAs have some big advantages, but there are major risks to consider as well.

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Deciding Between Parent PLUS Loans vs. Private Student Loans

Borrowers should almost always choose federal student loans over private loans. However, a private loan might work better than a Parent PLUS loan in some circumstances.

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Student Loan Repayment and Refinance Strategy for Social Workers

The graduate education required to become a social worker may mean a lot of student loan debt, but there are excellent debt elimination opportunities.

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Getting a Lower Interest Rate from FedLoan Servicing (MyFedLoan)

MyFedLoan can’t lower your federal student loan interest rate. However, there are a couple tricks borrowers can use that result in interest savings.

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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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