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Will Getting an Inheritance or Large Gift Increase My Student Loan Payments?

Michael Lux Blog, Student Loans 0 Comments

One of the major perks of having federal student loans is that there are repayment plans based upon what you can afford to pay rather than what you owe. These Income-Driven Repayment plans ensure that federal student loan payments stay reasonably affordable. Things get tricky for borrowers who come into …

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Why Lowering Federal Payments to Pay Off Private Loans Can be the Smart Approach

Michael Lux Blog, Strategy 0 Comments

One of the most common student loan repayment strategies is to pay off the highest interest student loan first. But this one size fits all approach isn’t always the best idea. In many cases, student loan borrowers should focus on paying off their private loans before attacking their federal loans. …

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Student Loan Forgiveness for Private Sector Employees

Michael Lux Blog, Strategy 0 Comments

Public Service Loan Forgiveness gets all of the headlines, but most Americans are employed by a private sector, for-profit employer. Do these employees have access to student loan forgiveness programs? How do they qualify? All federal student loan borrowers are eligible for student loan forgiveness, including private sector and for-profit …

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Can I pay more than the minimum on my IBR, REPAYE or PAYE payment plan?

Michael Lux Blog, Strategy 0 Comments

One of the great perks of federal student loans is the income-driven repayment (IDR) plans. Borrowers struggling with student debt can qualify for monthly payments as low as $0 per month for an unlimited period. Continued enrollment simply requires borrowers to certify their income every year. While owing zero dollars …

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IBR, PSLF, and Mortgages… Oh My! How to buy a house and chase forgiveness.

Michael Lux Blog, Strategy 8 Comments

Editors Note: This article was originally published on January 21st, 2018. It has been modified to include updated links to various federal student loan resources. In this edition of the student loan plan, we take a deep dive into one reader’s student loan situation. User Vickim34432 came by the student loan …