President Trump signed a major executive order on Wednesday directing the cancellation of student loan debt held by disabled veterans.
According to Fox News:
President Trump signed an executive order on Wednesday that forgives all student loan debt for any permanently disabled U.S. military veterans.
The order, which Trump signed following a speech at the American Veterans National Convention in Louisville, Ky., also clears those eligible veterans from having to pay any federal income tax on the loans. Trump added that he is pressuring individual states to follow suit.
“The debt of these disabled veterans will be completely erased,” Trump said. “That’s hundreds of millions of dollars of student loans debt for our disabled veterans that will be completely erased.”
The memo Trump signed directs the government to develop an “expedited” process so veterans can have their federal student loan debt discharged “with minimal burdens.” Currently, just half of the roughly 50,000 disabled veterans who are qualified to have their federal student loan debt forgiven have received the benefit because of a burdensome application process.
The current program that allows veterans to have their debt canceled was not working, so it appears that President Trump took action to make the process easier.