BenefitEd to Offer Nontaxable Student Loan Repayment Programs to Employers
Nelnet, Inc. (NNI)
US:NYSE Investor Relations:
nelnet.com/investors
Company Research
Source: PR Newswire
LINCOLN, Neb., March 27, 2020 /PRNewswire/ -- BenefitEd, a joint venture between Ameritas and Nelnet offering customized student loan repayment and college savings programs to companies of all sizes, will begin working with employers to offer tax-advantaged student loan repayment programs. As part of HR 748 in the COVID-19 $2 trillion stimulus package, which was signed into law by the President on March 27, 2020, employer contributions toward employee student loans will be nontaxable for both federal and state purposes for the remainder of 2020. This change to the federal law will make student loan repayment programs even more valuable to employees and therefore more impactful for employers to offer as a recruiting and retention benefit. BenefitEd is prepared to assist employers looking to take advantage of a tax-free, customized student loan repayment program. "In the current economic situation, some employers might be looking for a unique benefit for recruitment and retention, while
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