President Trump recently delivered a speech at the American Veterans National Convention in Louisville, KY and subsequently signed an executive order that will now make it easier for disabled veterans to receive student loan forgiveness for federal education loans.
Although loan discharges for disabled veterans have been available for a while, many veterans are unaware of their benefits. The executive order seeks to simplify the process and expedite the results by decreasing the complexity of the application process. Thanks to the executive order, the United States Department of Education intends to notify over 25,000 disabled veterans of their potential loan forgiveness eligibility.
Veterans do have a right to opt-out of the loan forgiveness program. A veteran can decline loan debt relief in the event of tax liabilities or if it will make it more difficult to borrow student loans in the future.
Potentially eligible veterans will receive a letter informing them of their rights and what the application process involves. The borrower then signs and returns the application, but veterans can also apply via email or telephone.