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Student loan repayment benefits offered by employers are slowly increasing in popularity. And thanks to the Consolidated Appropriations Act of 2021, employers can now provide student loan ...
Streaming giant Hulu offers employees $1,200 every year to help them pay off their student loan debt. That’s $100 per month toward the principal balance of your loans, up to $6,000 in total.
“Employers offering a 401(k) match for workers paying off student loans will be quite attractive to the younger generation, or Gen Z,” Olivia S. Mitchell, a professor at The Wharton School of ...
Now that the Supreme Court has struck down President Biden's loan forgiveness plan, companies are looking to offer student debt repayment as a benefit.
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]
In 2019, just 8% of employers included student loan assistance in their employee benefits packages, according to research from the Society for Human Resource Management. Even that was a big step up...
As borrowers prepare to resume paying their federal student loans in the coming weeks, the IRS is reminding employers that they can help by offering workers up to $5,250 tax free as part of their ...
As CNBC reported, a 2021 study from the Employee Benefit Research Institute found that close to 50% of the 250 companies it surveyed either already offered a student loan debt assistance program ...
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