Student loan assistance is one of the less-discussed changes included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. But the act gives employers a great way to reward some of your workers with tax-free help paying down their student loan debt.
Don’t wait to check out the new IRS rules on student loan assistance, especially if you haven’t already set up an Education Assistance Plan (EAP).
That’s the first step.
And even if you are already offering an EAP, the plan will need to be specifically amended to comply with the new rules.