Employers Should Consider A New Student Loan Tax Benefit For Their Employees

SPRINGFIELD - Employers can now make tax-free student loan payments on behalf of their employees, up to $5,250 a year through 2025, thanks to my bipartisan bill, the Employer Participation in Repayment Act, which is now law.

With workforce issues plaguing our economy and the amount of student loan debt growing each day, I hope employers consider offering this benefit to their employees if they are able. It’s a unique public-private partnership to help employees achieve financial freedom while also helping our country tackle this major debt crisis.

To learn more about this benefit, watch this video by clicking here and visit rodneydavis.house.gov/studentloanbenefit.

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