Tax Incentives to Employers for Student Loan Repayment Programs
American Student Assistance offers student loan reimbursement to its employees because we believe it’s the right thing to do, and we encourage other employers to do the same. We suggest a tax credit be offered at the state level to employers who adopt reimbursement as part of their benefits program.
Employer student loan debt reduction programs:
- – give employers a tax benefit and incentive for employee recruitment
- – reduce the loan payment burden on employees
- – allow states to retain college graduates who will work and live in the region, thereby strengthening the tax base
The final report of the Massachusetts Board of Education Task Force on Student Financial Aid recommends instituting this tax incentive in the Commonwealth.
