FOR EMPLOYEES

EMPLOYER STUDENT LOAN REPAYMENT PROGRAM

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EMPLOYER STUDENT
LOAN REPAYMENT PROGRAM
What you need to know.

Employer Student Loan Repayment Assistance is a tax-free, financial wellness employee benefit offering assistance in helping employees reduce financial stress in the form of employer contributions towards outstanding student loans.

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EMPLOYER STUDENT
LOAN REPAYMENT PROGRAM
What you need to know.

Employer Student Loan Repayment Assistance is a tax-free, financial wellness employee benefit offering assistance in helping employees reduce financial stress in the form of employer contributions towards outstanding student loans.

DO YOU WANT
YOUR EMPLOYER
TO LEARN MORE?
 
Here is what you can do.

There are resources you can provide to show how this type of benefit can meet the evolving demands of today’s workforce as it relates to the high percentage of the current and incoming workforce struggling with student debt and financial stress.


Learn more about Employees looking for Student Loan Financial Assistance from their Employers. Check out RISLA'S Factsheet.

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HUMAN RESOURCES
HUMAN RESOURCES

A great place to start would be your employers Human Resources department. If that is not an option, reach out to your manager to point you in the right direction.

FACTSHEET
FACTSHEET
If you would like an information resource download RISLA'S factsheet on Employer Student Loan Repayment Program.
EMPLOYER REPAY
EMPLOYER REPAY

Visit risla.com/employer-repay and suggest your organization request a free demo to learn more.

HARVARD BUSINESS REVIEW

"86% of young workers surveyed by American Student Assistance said they would commit to five years with an employer that helped them pay off student loans. Yet, only 8% of companies offer a Student Loan Repayment to their employees. With so few companies providing debt help, those that do often gain a recruiting edge."

READ MORE

MAKING A DIFFERENCE

* Estimated calculations are based on the terms entered above using a 15-payment term. 'With Contributions' payment calculations also include the Employer Contributions value entered.

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FAQ

With RISLA’S Employer Student Loan Repayment Program we work with companies to help them offer tax-free student loan repayment as an employee benefit. Here are some frequently asked questions about our Employer Student Loan Repayment Program and how it benefits employees’ future.

What Loans Qualify?

An employee’s loan qualifies for repayment if they took out a loan to pay qualifying education expenses that were:

  • For themselves, their spouse, or a dependent
  • Paid or incurred within a reasonable period of time (e.g., academic period) before or after taking out the loan AND
  • For education provided during an academic period for an eligible student (aka someone enrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential
  • This program does not apply to loans provided by relative(s) or a qualified employer plan. 
Can I have my current employer join?

A great place to start is your human resource department.

What is the tax-free limit?

An employee can receive up to $5,250 per year toward student loan payments. This is not included in employee’s income. The tax-free amount of $5,250 is the combined limit for loan repayment and other types of education assistance under Section 127 of the Internal Revenue Code. 

What are the tax implications for the employee?

Recent Federal stimulus legislation included a provision that extends an employer’s ability to provide a student loan repayment benefit to employees on a tax-free basis before January 1, 2026.

Under this provision, an employer may contribute a combined total of $5,250 annually toward an employee’s student loans, and/or education expenses (e.g., tuition, fees, books). Such payment would be excluded from the employee’s income. The provision applies to any student loan payments made by an employer on behalf of an employee before January 1, 2026.

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EMPLOYER REPAY

Employer Student Loan Repayment assistance is a tax-free benefit allowing employers to contribute towards the repayment of employee student loans.  This newest in-demand employee benefit helps reduce financial stress for employees while increasing retention and loyalty to employers.