Federal Student Loans Review – The Pros and the Cons of Federal Loans

Michael Lux Student Loan Blog, Student Loan Reviews 0 Comments

Editor’s Note: Today’s review of federal student loans will cover all federal loans, including direct, subsidized, unsubsidized, and Graduate PLUS loans. The one type of loan not covered in this review will be Parent PLUS loans as these loans are significantly different from the other federal loans. Student loan experts and …

cutting the fine print on PSLF

Public Service Student Loan Forgiveness: The Basics and the Fine Print

Michael Lux Basics, Student Loan Blog, Student Loans 12 Comments

Public Service Student Loan Forgiveness is a much-discussed topic, but very rarely are all the necessary details covered. Getting the government to forgive your student loan debt requires close attention to detail. Failure to meet any requirement could be a costly mistake. With news of a high rejection rate, many …

loan origination and distribution fee basics

Student Loan Origination Fees: The Basics and Avoiding Them

Michael Lux Basics, Student Loan Blog, Student Loans 0 Comments

Student loan origination fees, also known as disbursement fees, are an added cost of borrowing a student loan beyond the interest paid. Typically, an origination fee is charged as a certain percentage of the loan. Origination fees have come under increased scrutiny from consumers, and while they still can be …

IBR, PAYE and REPAYE: How to pick the best Income-Driven Repayment Plan

Michael Lux Basics, Strategy, Student Loan Blog, Student Loans 0 Comments

There are four different income-driven federal repayment plans.  Pay As You Earn (PAYE) and Revised Pay As You Earn (REPAYE), offer the lowest monthly payments.  However, plans like Income Based Repayment (IBR) and Income Contingent Repayment (ICR) may be the best choice due to eligibility requirements and tax considerations. The …