President Donald Trump signed an order eliminating student loan debt for veterans who are permanently disabled following a speech at the 75th annual American Veterans convention in Louisville, Kentucky.
"In a few moments, I will sign a memorandum directing the Department of Education to eliminate every penny of federal student loan debt owed by American veterans who are completely and permanently disabled."
After his speech was concluded, Trump remained on the stage to sign the order.
"The debt of these disabled veterans will be entirely erased. It will be gone," Trump said. "Sleep well tonight."
Forty thousand veterans who are disabled and unable to work currently owe around one billion dollars in student loans. Of those veterans around 25,000 have defaulted on their payments. Earlier in the year, the Department of Education notified veterans who may be eligible for loan forgiveness. While the new process was more straightforward, many veterans still had a hard time navigating the bureaucratic process to get financial relief. Only 8,500 of the eligible veterans signed up to seek help.
Trump's order will eliminate the process and automatically free over 25,000 veterans from debt.
"That's hundreds of millions of dollars in student debt held by our severely wounded warriors. It's gone forever," Trump said.
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