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 …

Taking a close look at the discover student loan refinance option.

Discover Private Student Loan Consolidation and Refinancing

Michael Lux Blog, Student Loan Consolidation Reviews 0 Comments

Discover joins a crowded marketplace of lenders offering student loan consolidation and refinancing services. Though the loans that Discover offers are not groundbreaking, they will appeal to a number of borrowers. Those most likely to be impressed will be consumers that like working with Discover and those that appreciate 100% …

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 4/14/19 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 …

Fedloan servicing refinance and consolidation options

Consolidation and Refinancing with Fedloan Servicing (myfedloan)

Michael Lux Blog, Consolidation, Refinance, Strategy, Student Loans 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 often fall short of minimal quality standards expected by many borrowers and taxpayers.  The challenges of …

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 April 3, 2019 to reflect the latest available interest rate information and a new customer promotion of up to $500. The latest company to enter the student loan refinance marketplace is Splash Financial.  Splash Financial first entered the student loan refinance business as a lender focusing exclusively on …