Trump Orders Automatic Student Loan Forgiveness for Disabled Vets
Some 25,000 disabled U.S. military veterans will see their student loans disappear overnight under a memorandum signed by President Donald Trump.
“Today I'm proud to announce that I am taking executive action to ensure that our wounded warriors are not saddled with mountains of student debt," Trump announced at the AMVETS National Convention in Kentucky Wednesday. "Nobody can complain about that, right?"
Disabled veterans already qualify for student loan forgiveness but it requires an application process which records show not all service members have taken advantage of. The federal government continues to seek payments from around 40,000 injured vets totaling $1 billion, according to CNBC. Around 25,000 are in default, while just 8,500 of those have applied for forgiveness.
The president’s action renders loan forgiveness automatic.