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Solution to the Student Debt Crisis?

Audio version available here:

Length: approx. 1 min.

In the aftermath of President Biden’s blocked attempts at student debt relief, countless borrowers are left searching for solutions to their overwhelming loan burden. However, most fail to realize that there has been a solution hiding in plain sight: their employers. Many companies have active educational assistance programs, but most students only use them to help pay for tuition or school supplies. This program can also be used to make loan payments, a benefit not taken advantage of very often. But in an age where hiring educated and reliable employees poses a challenge, business owners may find that advertising this benefit can help hire and retain talented and eager individuals. Up to $5,250 can be paid to each individual employee tax-free to help minimize their loan debt obligation. This can be paid directly to the lender or the employee. Benefits of this kind can enable an employer to recruit and retain highly-educated talent, and can help ease the debt crisis plaguing millions of hard-working Americans. For more information on how to take advantage of this incentive, check out our source article from the IRS:

Optimistic student smiles in her graduation regalia.


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