WASHINGTON – The Internal Revenue Service issued a reminder that employers who offer educational assistance programs can also use them to help pay for their employees’ student loans through Dec. 31, 2025. Though educational assistance programs have been available for...
Student Loans
Educational assistance programs can help pay workers’ student loans
Educational assistance programs offered by employers can now be used to pay principal and interest on an employee’s qualified education loans. Traditionally, these programs have been used to pay for books, equipment, supplies, fees, tuition, and other education...
What is the tax treatment of forgiven student loans?
Now that President Biden has announced student loan relief, the state tax treatment of forgiven loans is of interest to many ministers. Ministers who have student loans forgiven are spared a federal tax bill, but not all states treat forgiven loans the same. A...