Student Loan Relief Ignored in New Stimulus Bill: Don’t Panic Yet

Michael Lux Analysis, Student Loan Blog 0 Comments

Today Congress will be passing a new Covid-19 related stimulus bill. Unfortunately, the relief doesn’t include an extension of the 0% interest and payment freeze on federal student loans. Earlier versions of the bi-partisan legislation included an extension on the federal student loan payment and interest suspension currently set to …

The Federal Government will Probably Extend the Interest Rate Freeze (Updated)

Michael Lux Analysis, Student Loan Blog 0 Comments

As part of the financial relief during the Coronavirus epidemic, interest rates on most federal student loans have been temporarily lowered to 0%. Payments have been suspended through January 31st, 2021. The Biden transistion team has indicated that Biden will be extending the interest freeze and payment suspension. Full details …

The Impact of the Federal Interest and Payment Freeze on Loan Forgiveness (UPDATED)

Michael Lux Analysis, Student Loan Blog 0 Comments

Editor’s Note: This article was originally published on August 10, 2020. It has been updated to include new guidance on student loan forgiveness and the interest freeze provided by the Department of Education. The Coronavirus pandemic has caused the federal government to take unprecedented steps to help borrowers manage their …

Refinance Lender Transparency Review: Who is Offering the Best Covid-19 Advice?

Michael Lux Opinion, Student Loan Blog 0 Comments

Editor’s Note: The initial lender reviews for this article took place on August 3rd, 2020. If a refinance company takes steps to provide better guidance to borrowers, its grade will be updated accordingly. Businesses love to brag about how they do the right thing and put consumers first. Sadly, this …

Financial Planners: Student Loan Guidance for Your Clients During Covid-19

Michael Lux For Financial Planners, Student Loan Blog 0 Comments

Guiding student loan borrowers through the financial crisis presents financial planners with several challenges. Borrowers may have the chance to take advantage of lower interest rates, but some of these strategies come with additional risks. Most planners should be able to direct their clients to options that take advantage of …

Multiple Student Loan Refinance: the Costs, the Lenders and How to Avoid a Mistake

Michael Lux Strategy, Student Loan Blog 0 Comments

Refinancing a refinance student loan might sound redundant, but it is an excellent way for borrowers to eliminate debt more efficiently. Not all borrowers should try to refinance their student loans a second time, but in many circumstances, the permitted extra refi can save a bundle and provide some financial …

College Parents: Five Financial Tips to Get Your Student Ready for the 2020-2021 School Year

Michael Lux Strategy, Student Loan Blog 0 Comments

Funding a college education has always been a source of stress inside college families. Navigating the FAFSA and tracking down the right mix of scholarships, grants, and loans can be a time-consuming endeavor. For many, the growing cost of higher education has represented a significant hardship. Adding COVID-19 and the …