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The Biden administration had promised to give states 60 days notice before ending the public health emergency to allow sufficient time to prepare for changes to programs and regulatory authorities.
The cost of such forgiveness would run into the hundreds of billions of dollars, based on an administration official's estimate.
About one in five White House aides required to file a disclosure reported student loans, and more than half are people of color.
A review of 1,000 hospitals by Patient Rights Advocate found that only 14% were fully complying with the rule.
The tax credit covers 100% of up to $511 in daily wages per employee for those small- and medium-sized firms.
The order comes after an earlier attempt to force pharmaceutical companies to make reductions didn't yield results.
Trump could force drug companies to accept lower payments from Medicare for treatments administered in doctors' offices.