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Trump signs memo to cancel disabled veterans' student loan debt

 President Donald Trump signs a proclamation that will eliminate student loan debt for qualifying disabled veterans following a speech at the American Veterans
President Trump after a speech at the American Veterans National Convention at the Galt House in Louisville, Kentucky, Aug. 21. Photo: by Scott Olson/Getty Images

President Trump signed an executive order Wednesday that cancels the student loan debt of permanently disabled U.S. military veterans.

Why it matters: More than 25,000 disabled veterans will have their student debt forgiven as a result of the memorandum, according to the Trump administration. Per Fox News, it means eligible veterans won't have to pay federal income tax on the loans.

  • Trump's Education Secretary Betsy DeVos had for months resisted such action, even in the face of calls from a large bipartisan group of state attorneys general.