transformation loading

How to Convert Private Student Loans into a Federal Student Loan

Michael Lux Repayment, Student Loan Blog 0 Comments

Federal student loans have the best repayment plans and options for student loan forgiveness. As a result, converting private student loans into federal loans can be a really smart idea. Unfortunately, there isn’t a simple procedure or mechanism to turn private loans into federal loans. Borrowers that wish to turn …

Student Loan Refinancing for Government Employees

Michael Lux Refinance, Student Loan Blog 0 Comments

Government employees considering student loan refinancing need to be especially careful. The allure of lower monthly payments and a better interest rate can be tempting. However, borrowers should understand that while there are circumstances where a refinance might make sense, a mistake refinancing can be financially catastrophic. A Private Lender …

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 …

Using a Refinance or Consolidation to Simplify Bill Payments is Dumb

Michael Lux Opinion, Student Loan Blog 0 Comments

Both federal student loan consolidation and private student loan refinancing have significant advantages. These two processes can easily save borrowers thousands of dollars when done correctly. However, both federal consolidation and private refinance come with significant risks. The potential dangers are part of the reason that I hate to see …

Trump Freezes Student Loan Interest: The Details We Know So Far

Michael Lux News, Strategy, Student Loan Blog 0 Comments

On Friday, March 13, President Trump announced that he was pausing student loan interest “until further notice” to help support a slumping economy. At this point, many of the details are still being worked out. The Department of Education is awaiting instructions from the White House while the nine federal …