Congress Extends Student Loan Repayment Provision to 2025 plansponsor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from plansponsor.com Daily Mail and Mail on Sunday newspapers.
[December 28, 2020]
Congress Extends Critical Legislation Enabling Employers to Enhance Financial Wellness Programs
Gradifi by E TRADE, a student loan payment benefit administrator, today applauded Congress decision to extend critical legislation that preserves for five years the tax-free status of employer-sponsored student loan repayment programs.
Under this provision, employers can continue to make tax-free contributions of up to $5,250 per employee annually toward eligible education expenses, like tuition or student loan assistance, without raising the employee s gross taxable income. Since this legislation was enacted interest in and engagement with workplace student loan repayment programs has grown meaningfully, and we ve seen that the tax treatment has had the positive impact it intended, said Kate Winget, Managing Director, Head of Participant Engagement and Experience for Morgan Stanley at Work, which includes Gradifi by E TRADE. It is a huge win that this legisla