Hundreds of millions in federal student loan debt owed by permanently disabled military veterans will be erased in an expedited process under Trump's directive.
Hundreds of millions of dollars in federal student loan debt owed by tens of thousands of disabled military veterans will be erased in an expedited process under a directive President Trump signed this week.
Trump ordered the Education Department on Wednesday to “eliminate every penny of federal student loan debt” owed by U.S. veterans who are completely and permanently disabled. Only about half of the roughly 50,000 disabled veterans who qualify to have their federal student loan debt forgiven have received the benefit, and the administration blames a “burdensome” application process.
The document directs the government to develop an expedited process so veterans can have the debt discharged “with minimal burdens.”Trump said they won’t have to pay federal income tax on the forgiven debt and called on states to waive their taxes as well.The action will wipe out an average of $30,000 in debt per person owed by more than 25,000 eligible veterans, Trump said, calling them “incredible people” who have made “the ultimate sacrifice, in many ways, for our nation.
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