Student Loan Debt Cancelled

PUBLISHED: 1:00 PM 22 Aug 2019
UPDATED: 5:07 PM 22 Aug 2019

Trump Cancels Student Loan Debt For Disabled Vets

If there is anyone who deserves to have their student loans deleted, it is the men and women who have been wounded defending the United States, and the president did just that.

Good!

Once again, the president is making liberals’ heads explode. Student loan debt forgiveness is a favorite topic for freeloading snowflakes and the socialist parrots who want their vote. Although impractical to cancel all of it, President Trump actually did something great for America’s soldiers who’ve been wounded in combat.

He cancelled their education debt.

Fox News reported:

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.

Breitbart News reported on the president’s additional comments regarding America’s debt of gratitude to these soldiers:

“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 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.