President Trump is signing an executive action Wednesday to wipe away federal student loan debt for tens of thousands of veterans who are 100% disabled.
Mr. Trump is taking the action in a speech to the 75th annual American Veterans convention in Louisville, Kentucky. He said the memorandum directs the Education Department to eliminate “every penny” of student loan debt for those disabled veterans.
There are more than 40,000 veterans nationwide who qualify for debt forgiveness under action taken by the Departments of Education and Veterans Affairs last year. But only a fraction of those eligible has taken advantage of the program by applying for help.
Bipartisan legislation was introduced in June in Congress that would dismiss all federal student loan debt for eligible veterans, whether or not they applied for the program.
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