the year 2020 in the sand

The Best Student Loan Refinance Rates for September 2020

Michael Lux Blog, Consolidation, Refinance 0 Comments

*Rate Tables Updated as of September 2nd, 2020 September 2020 may be the most competitive we have ever seen the student loan refinance marketplace. Prior to the Covid-19 pandemic, tech companies like SoFi and Earnest tended to offer the best refinance rates while the traditional banks and lenders lagged behind. …

Splash Student Loan Consolidation Review

Splash Financial Student Loan Refinance Review

Michael Lux Blog, Consolidation, Refinance, Student Loan Consolidation Reviews, Student Loans 2 Comments

Article Updated February 5, 2020, to reflect the latest available interest rate information and a new customer promotion of up to $500. One of the newer names to enter the student loan refinance marketplace is Splash Financial. Splash Financial first entered the student loan refinance business as a lender focusing …

laurel road student loan refinance

Laurel Road Review: Student Loan Refinancing and Consolidation

Michael Lux Blog, Consolidation, Student Loan Consolidation Reviews, Student Loans 1 Comment

Article updated August 27th, 2020, to include the latest interest rate information. For the past five years, Laurel Road has been one of the top student loan refinance lenders. Laurel Road has built its reputation on being a top choice for healthcare professions, especially doctors, optometrists, and dentists. However, we …

Turn a No into a Yes

Mailbag: Turning Student Loan Consolidation Rejection into an Acceptance

Michael Lux Blog, Consolidation, Lower Payments, Mailbag, Student Loans 3 Comments

Earlier this week I received the following email from a reader: I’m writing because recently I have been trying to consolidate my private loans and have run into a snag: I have too much debt with regard to my income (surprise!).  I have excellent credit and make the huge payments …

loan sign illuminates the consequences of refinancing or consolidation on credit scores

Student Loan Consolidation and Refinancing: Is it Good or Bad for my Credit Score?

Michael Lux Best Of, Blog, Consolidation, Lower Payments, Student Loans 49 Comments

Many student loan borrowers can improve their credit score by consolidating or refinancing their student loans. Unfortunately, not all borrowers see an increase. Some borrowers may see their score drop by consolidating or refinancing. Though federal direct consolidation and private student loan refinancing are very different processes, the impact on …

tips for lender calls

10 Tips for Dealing with Your Lender Over the Phone

Michael Lux Best Of, Blog, Consolidation, Lower Payments, Student Loans 0 Comments

Phone calls with lenders can be especially stressful.  For many borrowers, student loans are by far their biggest debt.  Student loan companies, including federal student loans servicers like Navient and MyFedLoan have a well deserved reputation for lousy service.  This combination of financial pain and terrible customer service can be …

Fedloan servicing refinance and consolidation options

Consolidation and Refinancing with Fedloan Servicing (myfedloan)

Michael Lux Blog, Consolidation, Strategy 0 Comments

Fedloan Servicing, also known as myfedloan, is one of the largest servicers of federal student loans. Though Fedloan Servicing has been entrusted by the government to manage billions of dollars in student loans, they, at times, fall short of minimal quality standards expected by many borrowers and taxpayers. The challenges …