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Employee Benefits › Educational Assistance Programs › Student Loans

Haynes Boone

IRS Reminder: Educational Assistance Programs Can Help Pay Employee’s Student Loans

Haynes Boone on

The IRS recently issued a news release with a reminder that employers may contribute up to $5,250 annually per employee toward qualified student loan repayments if provided under a Section 127 educational assistance program....more

Verrill

Student Loans and Code Section 127 Educational Assistance Programs: A Reminder from the IRS, FAQs, and a Sample Plan Document

Verrill on

On August 28, the IRS issued IR-2024-227, reminding employers of the following key aspects of educational assistance programs under Internal Revenue Code Section 127: -They can be used to help reimburse the costs of or...more

Harris Beach Murtha PLLC

Employers’ Educational Assistance Programs Can Help Pay Employees’ Student Loans Until December 31, 2025

Harris Beach Murtha PLLC on

The IRS recently issued a “Tax Tip” reminding that employers that offer IRC Section 127 educational assistance programs can use those programs until December 31, 2025, to pay principal or interest on any “qualified education...more

Snell & Wilmer

CARES Act Enables Employers to Assist with Student Loan Repayments

Snell & Wilmer on

The Coronavirus Aid Relief and Economic Security Act (the “CARES Act”), signed into law on March 27, 2020, provides employers with a new mechanism to assist their employees with repayment of student loans. Section 2206 of the...more

Hinshaw & Culbertson - Employment Law...

CARES Act Program Expands Scope of Educational Assistance Plans to Include Employer Repayments of Student Loans

Hinshaw & Culbertson - Employment Law... on

A new rule under the CARES Act could be beneficial for employees with outstanding student loan debt, and even provide some cost savings for employers as well. The CARES Act expanded the scope of Educational Assistance...more

Dickinson Wright

Benefits Briefs in the Time of COVID-19, Part 2: Temporary Expansion of Educational Assistance Programs to Cover Employees’...

Dickinson Wright on

The CARES Act gives employers a way to pay employees’ student loan debt on a pre-tax basis during a portion of 2020 through an educational assistance program under Section 127 of the Internal Revenue Code (“Code”)....more

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