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The program permits Direct Loan borrowers who make 120 qualifying monthly payments under a qualifying repayment plan, while working full-time for a qualifying employer, to have the remainder of their balance forgiven. [2] The earliest time in which borrowers could receive forgiveness under the program was after October 1, 2017.
Key takeaways. Student loan repayment assistance programs can offer employees tax-free benefits up to $5,250. Employer programs offer different types of assistance, including signing bonuses ...
Federal student loan borrowers have about a month to prepare for the resumption of payments following a payment moratorium that began in March 2020, during the early days of the COVID-19 pandemic....
When you’re working toward Public Service Loan Forgiveness (PSLF), it’s helpful to submit the Employment Certification form every year to verify your employment (or at least every time you ...
Employer student loan contributions used to be taxable as regular income in the U.S. [3] According to the Coronavirus Aid, Relief, and Economic Security Act, payments of student loan principal and interest by an employer to either an employee or a lender is not taxable to the employee if paid on or before December 31, 2020. [6]
The PSLF program forgives remaining student loan balances for borrowers in the Direct Loan program after 120 qualifying monthly payments under an income-driven repayment (IDR) plan.
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