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.
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.
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.
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.
Visit risla.com/employer-repay and suggest your organization request a free demo to learn more.
" The employer student loan repayment program has helped me successfully pay off my student loans after almost 14 years of paying for undergraduate loans. This benefit provided to me by my employer has allowed me more financial freedom which in my case means hopefully finally being able to buy a house! I am very grateful to my employer and this program! "
Healthcare Administrator
Your employer makes a defined monetary contribution. These contributions can be made directly to your student loans in one-time, quarterly, and/or yearly payments.
Employer's contribution helps in paying off the loan faster and reduces the amount of interest paid over the life of the loan.
These contributions can make a big impact towards reducing your student debt in a shorter period allowing employees to focus on other important financial goals, such as purchasing a home, investments, and retirement savings.
* 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.
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.
An employee’s loan qualifies for repayment if they took out a loan to pay qualifying education expenses that were:
A great place to start is your human resource department.
Download RISLA’s Factsheet for information and resource about the program
Visit risla.com/employer-repay and suggest your organization request a free demo to learn more.
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.
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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Students and families can be overwhelmed with planning and how to pay for college. We have experienced counselors that offer one on one assistance helping families understand all their options start to finish.
We have been offering low cost, fix rate education loans for almost 30 years. Helping students and families borrower responsibly to help achieve their higher education dreams.
Refinancing may help you simplify and save when repaying student loans. Combining outstanding balances, and securing a low interest rate with RISLA may reduce your overall repayment amount and possibly your monthly payment.
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.