Education

After lull, employers renew interest in helping workers repay student debt

From The Washington Post: “Nearly half of the 250 large employers — those with more than 500 employees — surveyed by the Institute in 2021 offer or plan to offer student loan assistance as a benefit, compared with 32 percent in 2018. Meanwhile, a third of the 238 employers surveyed by advisory firm Willis Towers Watson in 2021 said they would offer direct student loan repayment. … A little-noticed provision of the 2020 Coronavirus Aid, Relief and Economic Security Act, or Cares Act, has also made it cheaper for companies to help employees repay their student loans. Companies can provide employees up to $5,250 a year toward their debt without the contributions being taxed. Employees are also spared from being taxed on the money.”

View the full article from The Washington Post.