Cares Act Student Loans Employer. Payments may be made to employees or directly to the employee’s lender. Employees with student loans have been able to claim a deduction for interest paid up to $2,500.
Payments may be made to employees or directly to the employee’s lender. As a result, employers can pay up to $5,250 towards traditional educational expenses such as tuition,. The cares act expands the ability of employers to help their employees with education expenses.
The cares act and employer student loan contributions update 12/27:
The cares act and student loan repayment. Among other things, the act provides broad relief for federal student loan borrowers. (a) in general.—paragraph (1) of part 127 (c) of the internal revenue code of 1986 is amended by placing ‘‘and’’ on the finish of subparagraph (a), by redesignating subparagraph (b) as subparagraph (c), and by inserting. Exclusion for certain employer payments of student loans.
