The Pros and Cons of Chasing After Student Loan Forgiveness

Michael Lux Student Loan Blog, Student Loan Forgiveness 0 Comments

Chasing after student loan forgiveness seems like an obvious decision. Student debt disappearing is far preferable to the painful process of repayment in full. However, if we look beyond the obvious, there are significant pros and cons to going after student loan forgiveness. Student loan forgiveness comes in many forms. …

Federal Student Loan Benefits: The Perks and Borrower Protections

Michael Lux Basics, Student Loan Blog 0 Comments

When evaluating student loan options, the interest rate is often the deciding factor. For many, the lower the rate, the better the loan. However, this simplistic method of evaluation ignores the many federal student loan benefits. In many cases, a federal loan –even one with a higher interest rate– is preferable …

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

Michael Lux Strategy, Student Loan Blog 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 and For-Profit Employees

Michael Lux Repayment, Student Loan Blog 0 Comments

Public Service Loan Forgiveness gets all of the headlines. However, for-profit, private sector businesses employ most Americans. These businesses are not eligible for PSLF. Do private-sector employees have access to student loan forgiveness programs? How do they qualify? All federal student loan borrowers are eligible for student loan forgiveness, including …

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Can a Bonus, Overtime Hours or a Raise Increase Student Loan Payments?

Michael Lux Strategy, Student Loan Blog 0 Comments

Millions of federal student loan borrowers are on income-driven repayment plans such as IBR (Income-Based Repayment) and REPAYE (Revised Pay As You Earn). The big advantage of these federal plans is that borrowers make payments based upon what they can afford rather than what they owe on the loans. To …

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

Michael Lux Strategy, Student Loan Blog 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 …

public service loan forgiveness and IDR issues

Mega-Mailbag: PSLF Issues and Income-Driven Repayment Considerations

Michael Lux Mailbag, Student Loan Blog 0 Comments

In this giant mailbag we will be covering a range of student loan questions: everything from Cost of Attendance issues to the timing of an Income-Driven Repayment Plan request.  We also have a few Public Service Loan Forgiveness questions to cover as well. If you have a question for the …

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

Michael Lux Strategy, Student Loan Blog 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 …