President Donald Trump signed an executive action Wednesday that will forgive the student loan debt of thousands of veterans with disabilities.

Trump signed that executive action at the AMVETS Conference in Louisville, Kentucky.

"In a few moments, I will sign a memorandum directing the Department of Education to eliminate every penny of federal student loan debt owed by American veterans who are completely and permanently disabled," Trump said.

The president said the action will help 25,000 veterans. He also said they won't have to pay federal taxes on the forgiven debt. The order cancels an average of $30,000 in debt per person.

Trump said Secretary of Education Betsy Devos will assist in implementing the new policy.