calculations

IBR and PAYE Strategy in Community Property States

Michael Lux Student Loan Blog 0 Comments

On their own, income-driven repayment plans like Income-Based Repayment (IBR) and Pay As You Earn (PAYE) can be complicated. When borrowers get married, the repayment strategy and calculations get even more complicated. The married borrowers who live in community property states face the most complication. Couples who live in community …

professional spouses student loans

Couples who owe Nearly a Million: High Income but Large Debt

Michael Lux How to Guides, Student Loan Blog, Student Loan Plan 0 Comments

The Situation: Husband and Wife both have great jobs.  Unfortunately for the couple, both spouses also have massive student debt.  Many doctors, lawyers, optometrists, dentists, and veterinarians, had to borrow a great deal of money for the required education.  In some marriages, this debt is doubled.  These high earning couples …

Avoiding marriage for public service loan forgiveness

Waiting on Getting Married to Chase Public Service Loan Forgiveness

Michael Lux Student Loan Blog 0 Comments

The dirty little secret of student loan debt is that there can be a very real penalty to getting married. Student loan forgiveness programs, such as Public Service Loan Forgiveness, require a borrower to enroll in an Income-Driven Repayment (IDR) Plan.  The benefit of an IDR plan, is that borrowers …