Ways You Can Quit Paying Your Student Loans
More than 40 million Americans have student loan debt. Of those borrowers, 5.6 million owe more than $50,000. That kind of crushing five-figure debt can take a real financial and mental toll.
If you fantasize about running off to a foreign country or faking your own death just so you wont have to pay back your student loans, know that theres a real way out.
Actually, there are eight ways, and theyre all perfectly legal.
The Learn Spring Course In A Nutshell:
- Spring is the most popular Java web development framework today
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- With practical, step-by-step video lessons
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The class is meant to take you from literally no Spring experience to having a real-world, solid grasp of the framework.
Simply put, at the end, you’ll be able to actually build stuff with Spring.
The 9 in-depth modules focus on the core aspects of the framework today, in 2021, with Spring 5 and Boot 2, not looking back at the XML days of Spring.
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Convenient Applicationcontextinstantiation For Web Applications
As opposed to the BeanFactory,which will often be created programmatically,ApplicationContext instances can becreated declaratively using for example aContextLoader. Of course you can also createApplicationContext instancesprogrammatically using one of theApplicationContext implementations.First, let’s examine the ContextLoader mechanismand its implementations.
The ContextLoader mechanism comes in twoflavors: the ContextLoaderListener and theContextLoaderServlet. They both have the samefunctionality but differ in that the listener version cannot be reliablyused in Servlet 2.3 containers. Since the Servlet 2.4 specification,servlet context listeners are required to execute immediately after theservlet context for the web application has been created and isavailable to service the first request : as such a servlet context listener isan ideal place to initialize the SpringApplicationContext. It is up to you as towhich one you use, but all things being equal you should probably preferContextLoaderListener for more information oncompatibility, have a look at the Javadoc for theContextLoaderServlet.
You can register anApplicationContext using theContextLoaderListener as follows:
The ContextLoaderServlet can be usedinstead of the ContextLoaderListener. The servletwill use the ‘contextConfigLocation’ parameter justas the listener does.
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An annual subscription MasterClass currently costs $180 . Thats cheaper than a premium Netflix subscription and in-line with the popular $14 Disney+ Bundle deal. The $180 price gets you unlimited access on one device. A better value is to subscribe to MasterClassMasterClass Plus plan, which gets you access to the platform from two devices and costs just $240 a year. Split between two users, that works out to just $10/month for each person.
The best MasterClass deal for 2021 though is to subscribe to the sites MasterClass Premium plan, which you can split between six devices. The Premium plan costs $276 a year . Split between six people, and that works out to less than $4/month for each user.
The MasterClass Premium plan lets you access the service from six different devices at the same time, and you dont have to all be watching the same thing. The plan also lets you download course videos and material to read and watch offline.
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Biden Administration Wipes Out More Student Loan Debt
On Friday, the U.S. Department of Education announced it will discharge student loans totaling $55.6 million by students who attended troubled schools like Westwood College, Marinello Schools of Beauty, and the Court Reporting Institute.
The Department will continue doing its part to review and approve borrower defense claims quickly and fairly so that borrowers receive the relief that they need and deserve. We also hope these approvals serve as a warning to any institution engaging in similar conduct that this type of misrepresentation is unacceptable,” said U.S. Secretary of Education Miguel Cardona in a released statement on Friday.
This is the third round of forgiveness by the Biden administration. In late March, the Department of Education announced it will forgive $1 billion in student debt held by defrauded borrowers from students who attended ITT Technical Institute schools, Corinthian Colleges, and American Career Institute. That month, the Department of Education also announced plans to forgive another $1.3 billion held by Americans with permanent disabilities.
But in the grand scheme of things those rounds of student loan forgiveness are pretty small. In total, there is around $1.7 trillionyes, trillion with a Ttotal outstanding student loan debt. Of that, more than $1.4 trillion is federal student loan debt.
This story was originally featured on Fortune.com
Student Loan Forgiveness Based On Your Job
If youre committed to a life of helping others, whether its by working for the government or a non-profit or by choosing a public service profession, you could qualify for student loan forgiveness.
This is not a commitment to be taken lightly, as it means youll have to ensure that your loans qualify, stay current on your payments throughout the process and stick with a job that qualifies for forgiveness.
And while you may graduate ready to give back through a career in public service, a lot can change over those qualifying years whether its adding family responsibilities to the mix or simply realizing you dont like your job.
Scam alert! Its illegal for anyone including companies that offer to help you repay your student loans to ask for your federal student aid user name and id. Never give that info out.
There is danger and risk with that because you dont know what is necessarily going to occur, said Melinda Opperman, executive vice president at . What if you change professions halfway through and you dont do the whole 10 years? Circumstances change.
If you do change your mind and switch to a non-qualifying job, youll be responsible for paying the remaining amount you owe.
Public Service Loan Forgiveness
The Public Service Loan Forgiveness program is probably the most well known, but for all the wrong reasons.
Teacher Student Loan Forgiveness
Nursing Student Loan Forgiveness
Perkins Loan Forgiveness
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Student Loan Forgiveness: Pass New Legislation
The simplest and most straightforward way for you to get wide-scale student loan forgiveness is for Congress to pass standalone legislation. Members of Congress simply propose a bill for student loan cancellation, and Congress approves said bill. Biden has already indicated that he will sign any legislation on student loan forgiveness that Congress sends to his desk. While Biden isnt keen on signing an executive order for wide-scale student loan forgiveness, Biden wants Congress to cancel up to $10,000 of student loans for student loan borrowers. . This isnt to say that members of Congress havent proposed legislation to cancel student loans. Sen. Bernie Sanders proposed student loan cancellation of all $1.7 trillion of student loans, including all private and federal student loan debt. As a presidential candidate, Warren proposed that 95% of student debt should get cancelled. Despite these proposals, Congress has yet to pass any legislation on student loan forgiveness.
Best Online Courses To Learn Spring Boot For Java Developers In 2021
Here is my list of some of the best online courses to learn Spring Boot for Java and Spring developers. Its good to have some Spring experience when you start with Spring Boot but thats not mandatory.
In fact, I suggest all first-timers start with Spring Boot, its better to start with the latest and popular technology than traditional ones, btw, if you still want to start with Spring first, then you should first check out the Spring Framework 5: Beginner to Gurubefore going through any of these Spring Boot courses.
In this list, I have included courses for both beginners as well as intermediate and experienced developers. Most of these courses will help you to learn all-important Spring Boot features like auto-configuration, starter dependency, Spring Initializer, Spring Actuator, and Spring CLI but some courses are goal-oriented and they will also teach you how to develop Microservices and Cloud-based application using Spring Boot and Spring Cloud.
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Student Loans: Final Thoughts
While Democrats in Congress have attempted to explore some of these options, there hasnt been a substantial, coordinated effort in Congress to pass wide-scale student loan cancellation. . There has been an occasional proposal, a speech on the House floor, some tweeting on social media. However, the Senate hasnt even held a vote on wide-scale student loan forgiveness. Despite all the rhetoric to cancel student debt, the Senate hasnt even voted on any legislation. Thats not to say Schumer doesnt support wide-scale student loan cancellation. Schumer does, and along with Warren, wants up to $50,000 of your student loan cancelled immediately. However, there doesnt appear any pathway in Congress for that to happen.
Given the end of student loan relief on January 31, 2022, now is the time to focus on student loan repayment. Start preparing now. Here are some popular ways to save money with your student loans:
Public Service Loan Forgiveness
If you work a full-time job for a U.S. federal, state, local, or tribal governmentor a not-for-profit organizationyou could be on your way to student loan forgiveness. You’ll need to make 120 payments, which don’t have to be consecutive, to qualify.
This option isn’t for the recent graduate because it takes at least 10 years to earn. You’ll need to have a federal direct loan or consolidate your federal loans into a direct loan.
This program has been plagued by problems. The government created the PSLF program in 2007, and when the first borrowers became eligible for forgiveness in 2017, a significant controversy emerged. A year after the first round of borrowers gained eligibility, almost all of their applications had been denied. Many borrowers were being denied the forgiveness they had earned over technicalities. Some discovered their loan servicers had misled them about their eligibility. As of June 2021, only 5,500 borrowers had gotten their loan balances discharged under the program.
Temporary Expanded Public Service Loan Forgiveness might help you if your Public Service Loan Forgiveness application was denied. TEPSLF grants qualifying borrowers the forgiveness they were denied under PSLF, but only until the program runs out of funds.
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How Do You Prove Undue Hardship Or Disability
Another step in order to get your student loans dismissed legally, through bankruptcy, is proving undue financial hardship, youll most likely be evaluated by the courts using whats known as the Brunner Test. If you can prove undue hardship by meeting the Brunner Tests qualifications, then you may be able to have your student loans as part of your bankruptcy.
The test asks whether you would be able to maintain a basic standard of living while repaying your student loans, whether you can prove that your undue hardship is likely to last through most of your repayment period, and if youve tried in good faith to repay your student loans before.
It may be possible to get your student loans discharged without going to court if you have a permanent disability. But its still very difficult to apply for a total and permanent disability discharge You need to fill out forms and show the Department of Education that you are not able to earn an income now or in the future because of your disability.
To do so, you need to get an evaluation from a doctor, submit evidence from Veterans Affairs, or show that you are receiving Social Security Disability Insurance. But you cannot apply for disability discharge until you have been disabled for 60 months, unless a doctor writes a letter saying that your disability and inability to work will last at least 60 months.
Qualify For A Federal Student Loan Forgiveness Program
The first way to eliminate your student loan debt applies to people with Federal student loans. These are student loans that are typically handled by the Department of Education or one of the student loan servicing companies. These include many different student loan programs handled by the Federal government.
There are three major, and several smaller student loan forgiveness programs. The most popular Federal student loan forgiveness program is Public Service Loan Forgiveness. This program offers student loan forgiveness to people who work in public service for 10 years. Public service not only includes government jobs, but it also includes many non-profit jobs, education jobs, and service jobs like law enforcement or public safety.
The other two common ways to get Federal student loan forgiveness is to be a teacher, which has it’s own Teacher Loan Forgiveness Program , and military service loan forgiveness .
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Student Loans A Lot Like The Subprime Mortgage Debacle Watchdog Says
But he says the rules are still too restrictive. Lawless researched the issue with a group of attorneys and former judges for the American Bankruptcy Institute, a professional organization. They’re recommending that Congress rewrite the rules on student loans in bankruptcy. Under the proposal, Lawless says, “after seven years from when the loans became due, they would be treated pretty much like any other debt in a bankruptcy case.”
There is at least some support for that in Congress. Part of the obstacle now is that the current rules often require paying your lawyer more money to attempt to get student debt forgiven.
Lawless says it costs on average about $1,200 to file a typical Chapter 7 bankruptcy case. Bankruptcy attorneys say it can cost thousands of dollars more to pay your lawyer to jump through the extra hoops related to student loan debt, unless you find one who will do that for a reduced rate.
These Programs Can Help You Wipe Out Student Debt
InvestopediaForbes AdvisorThe Motley Fool, CredibleInsider
How can people get rid of their student loan debtand, specifically, when is loan forgiveness an option? We don’t need another statistic to tell us how deep in student loan debt U.S. college graduates are. Total debt and average debt figures don’t mean much, except to say that if the sums you owe keep you up at night, you’re in good company. What really matters is finding a solution.
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Borrowers Who Attended Now
In March, Education Secretary Miguel Cardona announced that the department would wipe out student debt for borrowers who had approved âborrower defense to repaymentâ claims. This was the first of three rounds of student loan forgiveness this year that is aimed at helping borrowers who attended schools that were deemed as having taken part in deceptive or illegal practices.
More than 188,000 borrowers will benefit from these three rounds of forgiveness, totaling about $2.6 billion in canceled federal student loans. Two subsequent rounds of borrower defense forgiveness were announced in and .
Before the official rounds of forgiveness, borrowers had to submit a loan discharge application form, which asks questions about the studentâs previous enrollment. The Federal Student Aid office then decidedwhether to grant no, partial, or full forgiveness if the applicantâs school had deceived them.
Under the three rounds of forgiveness, the Department of Education will cancel debt for borrowers who attended these institutions: Corinthian Colleges, ITT Technical Institute, American Career Institute, Court Reporting Institute, Westwood College, or Marinello Schools of Beauty. These schools have been deemed as having misled students.
What Is The Best Way To Learn Spring Boot In 2021
Some of my readers also ask me what is the best way to learn a new framework? Well, I was a big fan of books a year ago but now I think online courses are a better choice.
They are more interactive and you learn a lot of things in very little time. They are also very cheap nowadays, for another important reason.
Some of these Spring Boot courses on Udemy cost less money than just taking a taxi to go to a supermarket, btw, if you still like to start with books, Spring Boot in Action by Craig Walls, author of Spring in Action is the best book to start with.
Along with books, you can also join a text-based, interactive course for a more complete learning experience. The Complete Guide to Spring 5 and Spring Boot 2 course from Educative, an interactive online learning platform for IT professionals is one such course.
The focus of the course is Spring Boot Starter projects. Youll start with the basics of Spring, like dependency injection, auto-wiring, and move on to Spring Boot, Spring MVC, Spring JDBC, and Spring Data JPA. Youll then dive into Springs support for AOP and unit testing.
The big takeaway from this course is that youll be able to create applications that have dependency injection and the inversion of control.
Here is the link to join this interactive course The Complete Guide to Spring 5 and Spring Boot 2
It will not only help you to write Spring-based Java application easily but also gives your career a boost.
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