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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.
sherpa explains when federal student loan consolidation is a good idea and when it is a mistake

The Complete Guide to Federal Direct Student Loan Consolidation

Federal direct consolidation is an essential move for some student loan borrowers and a huge mistake for others.

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TIme passes as student waits for SAVE forgiveness 10-years

Early Forgiveness Under SAVE: Understanding Loan Size Limits and Other Fine Print

Early SAVE forgiveness sounds simple, but there are complications for borrowers with larger balances, FFEL Loans and Parent PLUS Loans.

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2023 Tax Return Strategy, Tips & Deductions for Student Loan Borrowers

Tax season presents several opportunities for borrowers to lower student loan payments and move closer to loan forgiveness.

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Learn the requirements to benefit from the SAVE Subsidy

The Government is Paying Student Loan Interest for Millions of Borrowers: Learn How to Qualify

A small change to the IDR payment options has created an opportunity for borrowers to get student loan interest relief.

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Federal Borrower struggles to understand October Student Loan Bill

Why 40% of Federal Borrowers Missed Their October Payments

8.8 million federal borrowers haven’t paid their October bill, and affordable payments may not be the biggest issue.

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december 31 deadline for FFEL borrowers to consolidate

The Department of Education Needs to Extend the One-Time Payment Count Adjustment Deadline

In a few weeks, a little known deadline will pass and many borrowers will miss out on a great opportunity for quicker student loan forgiveness.

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borrowers wrestle with increasing student loan interest rates

How Inflation Changes the Student Loan Refinance Math

Oustside of a couple exceptions, most borrowers will want to steer clear of student loan refinancing while interest rates are high.

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borrower looks to the future of Income-driven repayment and sees SAVE

How SAVE Changed Income-Driven Repayment: Goodbye to REPAYE, PAYE, IBR, and ICR

The newly announced SAVE plan will eliminate or change most of the income-driven repayment plans currently available.

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Married couples considers options for federal student loans during retirement

Federal Student Loans in Retirement: Monthly Payment Calculations, Forgiveness, and Estate Planning

Federal student loan perks provide borrowers with valuable protections during retirement.

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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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