President Trump said in Louisville, Ky., Wednesday that he would wipe out “every penny” of student loan debt held by disabled veterans.
At an event organized by the veterans group AMVETS, Trump signed a memorandum directing the Education Department to automatically discharge federal student loans held by veterans who qualify as permanently disabled.
Education Department data provided last year to two groups, Veterans Education Success and Vietnam Veterans of America, showed that more than 42,000 borrowers were eligible for the loan forgiveness benefit, known as Total and Permanent Disability discharge. Of those eligible veterans, more than 25,000 had defaulted on roughly $168 million in student loans — a sign of both how much veterans were struggling with loan payments and how underutilized the loan forgiveness program had been.
Read the full story at Inside Higher Ed, “Faster Loan Forgiveness for Disabled Veterans” published on August 22,2019.