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 …

sherpa explains when federal student loan consolidation is a good idea and when it is a mistake

The Complete Guide to Federal Student Loan Consolidation

Michael Lux Blog 0 Comments

Federal student loan consolidation isn’t easy for many borrowers to navigate. For some borrowers, federal student loan consolidation is an essential step to getting their student debt eliminated. For others, federal student loan consolidation would be a major mistake. Determining whether or not consolidation should be done is an essential …

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 …