There’s no doubt that President Trump wants the support of veterans. He never fails to bring them up during rallies. It was so important to him, he told anyone who listened that vets needed better care. That included student loan forgiveness.
In doing so, Trump vowed to fix the VA to give them the best medical care and treatment available.
When it comes to helping students suffering under the massive weight of their loans, he felt less inclined to help. In fact, President Trump and Betsy DeVos attempted to roll back programs set in motion by the Obama administration.
Luckily, under the new budget, the current administration budged and kept the student loan forgiveness programs intact. For now. Who knows where these programs will go in the next fiscal year. As student loan debt continues to climb to record numbers, help is needed more than ever.
Student Loan Forgiveness is Essential for Vets
This new effort by the Trump administration hopes to make it easier for veterans to receive student loan forgiveness. For most students, this isn’t a simple process and it comes with hoops and qualifications. The difference is, many vets are unable to work normal jobs to pay back the loans.
In 2016, nearly 4 million vets had disabilities connected to their time in service. 1.3 million of them had quite serious disabilities, most of which leaves them unable to work at all. Even without a physical disability, there are other mental and psychological issues from their time in war. PTSD and depression are common among the veteran population.
According to Education Secretary Betsy DeVos: “Our nation’s veterans have sacrificed much for our country. It is important that, in return, we do all we can to give them the support and care they deserve.”
Student loan debt is a problem for most Americans, but it’s even dire for veterans who are unable to work. Making these programs easier for them will help cut down their financial burdens after leaving the military.
Student Loan Forgiveness Simplified
It was actually the Obama administration who created the Total and Permanent Disability Discharge program originally, but it wasn’t really known to veterans. The lack of publicity made it difficult for vets to obtain student loan forgiveness.
The goal of the Trump administration is to expand the original program and make it easier for vets to get their hands on.
“Simplifying the loan forgiveness process and proactively identifying veterans with federal student loans who may be eligible for a discharge is a small but critical way we can show our gratitude for veterans’ service,” said DeVos.
The idea is to have the Department of Veterans Affairs to directly reach out to each veteran independently to alert them about the program and offer assistance in completing the application for student debt forgiveness.
There are a few requirements to be accepted by the program, including having a disabling disability that prohibits your ability to repay.
Once approved, the Department of Education will tell your lenders that you are free and clear. The best part is, if you’ve already made payments towards your student loans, they will be refunded back to you.
This is great news for vets everywhere. Their service means a lot to this country, many of whom will suffer a lifetime of pain and disability. The more we can take care of those who serve us, the better we’ll be for it.
