On August 21st, President Donald Trump signed an executive order that will forgive student loan debt for disabled veterans across the United States
After giving a speech at the American Veterans National Convention in Louisville, Kentucky, the President signed the order that will allow eligible veterans to avoid paying federal income tax on their student loans. According to the President, permanently disabled veterans will have their debt “completely erased.”
Under the terms of the executive order, the federal government will be directed to create an "expedited" process that enables veterans to discharge their federal student loan debt with “minimal burdens." The current application process is so complicated that only 50% of the 50,000 disabled veterans who are eligible for debt forgiveness have been approved for benefits.
Disabled veterans currently have to seek debt forgiveness through the Total and Permanent Disability Discharge (TPD) program. However, in order to be approved for benefits, the veteran must have a VA service-connected disability rating of 100%. According to the latest figures, only 20% of eligible veterans have successfully used the program.
Talk to Our Lawyer Today About Your Student Debt
At the Campbell Law Firm, our skilled bankruptcy lawyer is here to answer all of your questions and to guide you through each step of the legal process. If you are a disabled veteran who wants to find out if they are eligible for the new loan forgiveness program, you should immediately get in touch with our law firm to discuss the details of your case.
Our legal team has nearly 30 years of professional experience assisting clients who are overwhelmed by student debt, and we are prepared to use our extensive resources to build a strong case strategy that protects your rights and interests.
Call (903) 345-0031 to request your free and confidential case evaluation today.