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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.

Step-by-Step Guide to Lowering Sallie Mae Interest Rate and Payments

Sallie Mae doesn’t advertise the rate reduction program. However, borrowers that are truly struggling may qualify for temporarily reduced interest rates.

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bankruptcy

Student Loans and Bankruptcy: A Quick Introduction

Discharging student debt in a bankruptcy isn’t impossible. However, it is really hard. The rules for student loans are different from most other forms of debt.

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sallie mae rate reduction program

Getting a Lower Rate from Sallie Mae

Helping a borrower who fell behind on his Sallie Mae payments lead to an unlikely discovery: Sallie Mae will lower interest rates for some borrowers.

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My Student Loan Consolidation Adventure

I consolidated my loans, but somehow my debt doubled. After a couple of scary days, I learned a lot about the federal consolidation process.

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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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