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Author: Michael Lux

Michael Lux Michael Lux is a graduate of the George Washington University School of law and the founder of The Student Loan Sherpa, a website dedicated to borrower education, strategy, and advocacy.

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Author posts



Bar Study Loans

Avoiding an expensive bar study loan

May 13, 2019

Editor's note: This post has been updated to clarify a passage in the original version (5/16/19, 10:44 a.m. CDT). As the spring semester comes to a close, many 3Ls are investigating their bar study loan options. Borrowing one last loan to pay

Night School

Why part-time law school still makes sense

April 11, 2019

My dad loves to remind me how he paid for his education.  He scrubbed toilets during college and worked as a punch card programmer to pay for law school.  He is making a point about hard work, but all I can hear is how great things used

Decisions

Don’t overlook retirement when paying down student debt

March 12, 2019

Getting that first student loan bill can be terrifying.  For many borrowers, it is the precise moment the monopoly money of student loans becomes real debt. For young lawyers, it can lead to an epic panic.  I owe how much?  This can’t be right, who

Loan Types

Are Graduate PLUS Loans the best way to borrow for law school?

February 13, 2019

There is a great debate in the legal and financial aid community.  Is it a good idea to borrow money for law school?  How much is too much?  When is law school a mistake? To be clear, this analysis is critical and should be considered by any perspective law

Sticking to a budget: One small step for a law student

January 11, 2019

Want to get your student loans paid off faster?  Would you like to retire a bit earlier? What if I told you there was an easy step you could take right now that would help you accomplish those goals? These questions may sound like the beginning

PSLF

Rumors of the demise of Public Service Loan Forgiveness have been greatly exaggerated

November 05, 2018

Last month this column admonished law students not to rely on the public service student loan forgiveness (PSLF) program.  The many variables of life make it a dangerous six figure bet. Shortly after publication of this advice, news broke that 99 percent of borrowers who applied for PSLF were rejected. At the risk of sending mixed messages, however, I would tell law students and young lawyers not to give up on PSLF either.