Trump signs student debt forgiveness for disabled veteranshttps://indianexpress.com/article/world/donald-trump-us-president-signs-student-debt-forgiveness-for-disabled-veterans-5925702/

Trump signs student debt forgiveness for disabled veterans

"There will be no federal income tax on the forgiven debts," Trump said.

donald trump, us president donald trump, president trump, American Veterans, us student loans, us student loans to disabled veterans, us student loan disabled veterans, world news, Indian Express
America, Trump said, owes its heroes “a supreme debt of gratitude.” (File Photo)

Student loan debt held by disabled veterans will be forgiven under an order signed Wednesday by President Donald Trump.

Trump said the order would direct the Department of Education to “eliminate every penny of federal student loan debt” owed by American veterans who are completely and permanently disabled.

“There will be no federal income tax on the forgiven debts,” Trump said, saying he’ll also ask states to waive their taxes on the loans.

America, he said, owes its heroes “a supreme debt of gratitude.”

Advertising

The administration says 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.

Trump issued the order during his address at the AMVETS convention in Louisville and signed it afterwards.

The document directs the government to develop an “expedited” process so veterans can have their federal student loan debt discharged “with minimal burdens.”

Trump was visiting Kentucky to speak to more than 2,500 veterans at the nonpartisan service organization, also known as American Veterans.