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 82 Comments

Many student loan borrowers are able to improve their credit score by consolidating or refinancing their student loans.  Unfortunately, not all borrowers see an increase in their score.  Some borrowers may actually see their score drop by consolidating or refinancing. Though federal direct consolidation and private student loan refinancing are …

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 …

sofi compared to lendkey for student loan refinancing

SoFi vs. LendKey: Picking the Better Refinance Company

Michael Lux Blog, Consolidation, Refinance, Student Loans 0 Comments

Article Updated 6/5/19 to include the latest available interest rate information. SoFi and LendKey are both premium student loan refinancing and consolidation companies.  At present they are both ranked in the top ten in our student loan refinance rankings.  How is a borrower to pick the best lender? The LendKey …

understanding student loans

Student Loan Basics

Michael Lux Basics, Blog, Student Loans 0 Comments

Student loans are often the subject of confusion.  To some, they are all pretty much the same.  To others, student loans are incredibly complicated and difficult to understand. Before jumping into repayment strategy and digging into tips and tricks for eliminating the debt, it is critical that a borrower understand …