President Trump signed an executive order on Wednesday that forgives all student loan debt for any permanently disabled U.S. military veterans.
The order, which Trump signed following a speech at the American Veterans National Convention in Louisville, Ky., also clears those eligible veterans from having to pay any federal income tax on the loans. Trump added that he is pressuring individual states to follow suit.
“The debt of these disabled veterans will be completely erased,” Trump said. “That’s hundreds of millions of dollars of student loans debt for our disabled veterans that will be completely erased.”
The memo Trump signed directs the government to develop an "expedited" process so veterans can have their federal student loan debt discharged "with minimal burdens." Currently, 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.
Under the current process, disabled veterans can have their debt forgiven under a loan forgiveness program, called Total and Permanent Disability Discharge, or TPD, as long as they have a VA service-connected disability rating of 100 percent. As of July, however, only about 20 percent of the eligible pool of veterans had taken advantage of the program due to the complicated nature of the application and other factors.
Trump’s announcement comes days after the administration hired a longtime student loan industry executive to be the federal government's top watchdog for the student loan market. Robert Cameron will serve as the Consumer Financial Protection Bureau's new student loan ombudsman, the bureau said Friday.
It's a job designed to protect student loan borrowers from poor practices in the student loan industry and one of the few positions explicitly named in the Dodd-Frank Act, the law passed after the 2008 financial crisis that created the bureau. It's considered the go-to office for borrowers who have complaints about their loans. Cameron most recently worked at the Pennsylvania Higher Education Assistance Agency, better known as FedLoan Servicing, as its head of compliance and risk mitigation.
PHEAA has been cited for poor industry practices, most notably for how it has handled the troubled Public Service Loan Forgiveness program, a program designed to allow student loan borrowers who work in public service jobs to get part of their loan balances forgiven.
The executive order also comes as student loan forgiveness has become a major talking point among the 2020 Democratic presidential primary candidates, with contenders like Sens. Bernie Sanders of Vermont and Elizabeth Warren of Massachusetts pushing plans to completely wipe out student loan debt nationwide.
Currently, Americans hold around $1.6 trillion in student loan debt.
The Associated Press contributed to this report.
Last edited by MtnBoomer; 08/21/19.
"I can't be canceled, because, I don't give a fuuck!" --- Kid Rock 2022
President Donald Trump signed a memorandum effectively canceling federal student debt loans for America’s wounded warriors on Wednesday. “Veterans who have made such enormous sacrifices for our country should not be asked to pay any more, rather it is America who owes our heroes a supreme debt of gratitude,” he said.
The president spoke to the AMVETS Convention in Kentucky on Wednesday, announcing his decision and signing the document.
Trump said the memorandum would effectively cancel the federal student debts of thousands of wounded American veterans.
According to the White House, the memorandum orders Secretaries of Education and Veterans Affairs to expedite totally and permanently that disabled veterans have their Federal student loan debt discharged with minimal burdens.
Trump also touted his administration’s accomplishments for America’s military veterans.
“After years of neglect, we are fixing the heartbreaking failures from the last Administration at the Department of Veterans Affairs,” he said. “America must never abandon our heroes in their hour of need.”
He said that wait times in Veterans Affairs hospitals had been slashed by 33 percent, and touted more VA accountability, allowing bad employees to get fired.
“Now when somebody mistreats you or mistreats people in the VA, we know what happens right?” he asked. “It’s called ‘You’re fired!'”
Veterans in the audience applauded and cheered after Trump said that over 7,600 faulty veterans affairs employees were fired from the system
“They’re gone, they’re fired,” Trump said.
Veterans also cheered Trump’s announcement that he had cut the amount of opioid drugs being prescribed by Veterans Affairs hospitals.
“Get a pain killer that’s not addictive,” Trump said. “And we’re closer than you think.”
Trump also spoke about preventing veteran suicides, suggesting that the government work to obtain a new nasal spray dose of fast-acting anti-depressant medicine to people experiencing suicidal thoughts.
The drug, Spravato, produced by Johnson and Johnson, was recently approved by the federal government.
“They’ve done so well in this country and they’ve made so much money, I think they should give it to us for free,” Trump said, referring to the pharmaceutical company.
"I can't be canceled, because, I don't give a fuuck!" --- Kid Rock 2022
"Allways speak the truth and you will never have to remember what you said before..." Sam Houston Texans, "We say Grace, We Say Mam, If You Don't Like it, We Don't Give a Damn!"
What percentage disability is required? Free college for life?
You could likely use “free college for life” since knowledge is obviously transient to you. 🙄
“Under the current process, disabled veterans can have their debt forgiven under a loan forgiveness program, called Total and Permanent Disability Discharge, or TPD, as long as they have a VA service-connected disability rating of 100 percent”
�Politicians are the lowest form of life on earth. Liberal Democrats are the lowest form of politician.� �General George S. Patton, Jr.
Under the current process, disabled veterans can have their debt forgiven under a loan forgiveness program, called Total and Permanent Disability Discharge, or TPD, as long as they have a VA service-connected disability rating of 100 percent”
under the current process?
Quote
As of July, however, only about 20 percent of the eligible pool of veterans had taken advantage of the program due to the complicated nature of the application and other factors.
So its always been at 100 percent debt forgiveness, he just eliminated their paperwork. Good for them, not having to jump through VA hoops.
BTW suck my ass
Son of a liberal: " What did you do in the War On Terror, Daddy?"
Liberal father: " I fought the Americans, along with all the other liberals."
Also, some of these soldiers accumulated the debt before military service.
Some enlist to pay off their loans, some go officer (ROTC, etc).
Interestingly, my loan was forgiven (up to $17,500) for service in public Title 1 schools or critical needs area (Special Education). If I'd known that BEFORE getting my degree, I'd borrowed 17.5 as it was, I borrowed just enough to pay for classes, then filled out a piece of paper for forgiveness.
Really funny, the bureaucracy, the HR person or Personnel Director couldn't sign to verify my employment, it HAD to be the Principal - of which I wen t through 3, and my latest one had taken a job with the state, thus the Principal that signed had no way of knowing my history (5 years Title 1 schools) but he signed and all was forgiven.
And these zombies line up and eat from the media’s trough
Here's a different take from someone who retired from the military and used the GI Bill to pay for his college degree.
What qualifies as a "disabled veteran"? We all think of the guy who got limbs blown off in an IED explosion or someone who took a bullet or shrapnel in combat. Not all (probably very few) are those folks.
When I retired, it was common practice among everyone involved in the process to try to get as much "disability" as possible to increase your monthly take-home pay. The medical folks, the VA folks, everyone encouraged me and all other retirees to try to claim as much as possible. From my perspective, it was tantamount to fraud, but evidently I was in the minority. When I retired, I was completely healthy, but the VA folks did their best to find me some disability. They scoured my medical record looking for potential problems, sent me for extra audiograms to see if they could find some hearing loss, quizzed me about my back and knees, recommended I get a sleep study done before I retired so I could claim sleep apnea. No dice. Couldn't find any disability for me. But I was the rare exception.
Almost every military retiree I know has some percentage of "disability". Those diagnosed with sleep apnea get 50%! Most of them snore because they are just fat, but they are 50% disabled according to the government. Almost everyone gets some percentage of disability for hearing loss. You would be amazed at all of the things that qualify a retiree for disability benefits.
I don't know the details of this latest program Trump signed off on, and I'm sure it's great politically, but I would like to know the details. I have no problem if a guy can't work because of combat injuries, but if one of my fellow retirees burned through his GI bill and then racked up student loans gets a pass on paying them back while the rest of us pick up his tab because he's a snoring lard-ass with a limp dick, I have an issue with that.
I don't know the details of this latest program Trump signed off on, and I'm sure it's great politically, but I would like to know the details. I have no problem if a guy can't work because of combat injuries, but if one of my fellow retirees burned through his GI bill and then racked up student loans gets a pass on paying them back while the rest of us pick up his tab because he's a snoring lard-ass with a limp dick, I have an issue with that.
I agree. There's a helluna lot of difference between someone who has a true disability that prohibits them from being able to do the things that 99% of are able to do, and from the man that is being paid for a disability, but is able to do anything he wants to do. I know two brothers who were drafted, spent a couple of years in the army, and came out "disabled." They have been able to do anything they want, and one of them hunts all over the country, and brags about how far he walks while turkey hunting.
I was a mail carrier for 31 years, and a had several people on my route who were disabled veterans, and I never saw one of them who was not able to do anything they wanted to do. I have always believed that for every one of these disabled veterans who has a real disability, there are at least ten who have faked it, and are drawing money because of it.
Having said that, I'm all for a person who was really disabled while serving in the military to receive benefits for their injury, and have no problem with the student debt forgiveness thing. But, one must be very careful here in creating this precedent, because there have been thousands of these disabled vets, who in the past, worked their azz off to pay back their debts, and never once asked for any help. Is it fair to leave them out, and do something now.
He can hump a loggy bayou climbing stand on his back, gear bag on his front, carry his bow and drag a deer out out of hollow.
Coaches a peewee football team, runs up and down the field with them. Runs a lawn service mowing yards during the warm months for all cash business, deer hunts all winter.
Spends 3 years in the army gets a lifetime 'retirement'.
I might be assed up if he's getting loan foregiveness.
WHEN another guy I know has blast injuries, bad knees and back from a jump gone wrong and is only 80%.
I could go to 4 yrs of college on my willy wonka golden ticket chapter 33 benifit. Take some bullschitt degree. Art , music, phys ed, ect ect ect. Everything 100% paid for and a 875 buck a month stipend based on e-5 baq with dependants rate for zip code. Wife/khan finished her last 2yrs of her degree on my GI bill I transferred it to her. 1200 bucks I had deducted over a yr during my 1st enlistment.
Chapter 33 some people milk it.....
Fugg that. I got some pride...
And I got better things to do with my time than go get " taught" by d- bags with no experience in the real world since kindergarten in their entire lives in the " world of academia" they have never left.
As far as the VA rating schitt. Btdt.... The "N double O" run VA can kiss my white ass.
Mutha fugga,s gonna get the 2 in the pink one in the stink shocker from me in the next couple of months from a surgery they finally are gonna address for a condition they rated at 0% in 08 when I retired.
Coc sukka,s gonna back pay me for that schitt I played hurt for decades on active duty, didnt show weakness, didnt ride the profile system. Led by fughing example.
VA,s unspoken mission is ta fugg ya over . Espically if your white and a former combat arms type.
No one can convince me otherwise.
9 out 10 ptsd cases are bullschit remf mutha fugga,s looking for a life long paycheck for their 1 or 2 enlistments.
See it all the fugging time around here. Ft Campbell area clarksville and hopkinsville.
I know a local guy, who admitted that he fell off a truck while in the army, hurt his knee, and was awarded an honorable discharge AND a permanent disability..........all to keep going to Nam. He bragged about it. He could do as much as anyone else could.
Chit like that bothers me......not that he didn't have to go to Nam, as Nam was a crock of chit, but because he brags about it.
