Year-End Appropriations Act Makes It Easier for Employers to Make a Difference in Tackling Employee Student Debt

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With 44 million Americans owing an estimated $1.7 trillion in student debt,[1] policymakers in Washington, D.C., have been focusing on how to help people pay down their balances—and the good news is, they are making it easier for employers to make a difference.

Source: Photobuay / iStock / Getty

In addition to President Joseph Biden’s day 1 Executive Order extending the pause on student loan repayments through September 2021, Congress recently extended a tax incentive for employers to help their employees pay down student loan debt.

Originally enacted as part of the Coronavirus Aid, Relief, and Economic Security

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