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Our growing student debt crisis requires innovative solutions. That's why I'm introducing the Employer Participation in Repayment Act with @RodneyDavis and 96 of our colleagues to help borrowers pay down their student loan debt.https://scottpeters.house.gov/media-center/press-releases/reps-peters-and-davis-reintroduce-bipartisan-bill-to-address-rising …
Our bill would encourage more employers to offer repayment assistance as a tax-exempt benefit up to $5,250 a year—similar to tax exemptions for tuition assistance programs. Employees would be able to pay down their debt faster.
Many employers already offer this benefit, but we can help encourage more companies to offer this benefit across the country. That would move us closer to solving the student debt crisis. It's time Congress does our part.
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