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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.
parents with child look

Public Service Forgiveness for Parent PLUS Loans

It is possible for Parent PLUS loans to qualify for Public Service Loan Forgiveness (PSLF), but borrowers have to jump through some hoops.

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Borrowers now have until June 30 2024 to take advantage of one-time account adjustment

Biden Administration Extends Student Loan Consolidation Deadline

The terms of the one-time account adjustment deadline are a bit complicated, but consolidation right now is a big opportunity for many federal student loan borrowers.

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Borrower Unshackles himself from student loan debt after a decade

How Student Loan Forgiveness in Just Ten Years is a Realistic Possiblity

Erasing student debt in less than ten years isn’t guarenteed, but there are realistic options for borrowers to pursue.

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picking standard repayment plan over SAVE is expensive

This Frequent Mistake by Recent Graduates Just Got More Expensive

Too many graduates regret their initial repayment choices. Learn how opting for SAVE could make all the difference.

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determining how lon student loan consolidation takes

How long does student loan consolidation or refinancing take?

The biggest variable in both the refinance and consolidation timeline is usually the borrower.

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student loan borrowers navigate maze to sign up for SAVE with Parent PLUS Loans

Unlocking the Parent PLUS Double Consolidation Loophole: Navigating Benefits and Risks

The rewards are huge – lower monthly payments and more loan forgiveness, but the double consolidation loophole isn’t right for everyone.

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paper clips calulator tools to evaluate AidVantage Consolidation decision

How to Consolidate AidVantage Student Loans

Consolidation of AidVantage loans may be a smart move in your quest to eliminate student debt. Learn how it works and the mistakes to avoid.

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Are AES Loans Federal or Private?

American Education Services (AES) handles both private and federal student loans. Fortunately, it is fairly simple to identify which loans are federal.

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How to Find the Database with Complete Federal Student Loan Records

The Department of Education keeps student loan records that track balances, loan types, repayment plans, and servicer information.

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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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