The American Dream of college education has turned into a nightmare for many saddled with student debt, but momentum is building in Congress for a solution that could benefit workers and employers alike.
Rep. Rodney Davis (R-Ill.) is pushing one of two bills that advocate for a small change in federal tax law to help avert billions of dollars in student loan defaults. His proposal would give businesses and workers a tax break when employers give their employees money to pay off their student loans.
Some bosses already offer workers extra cash to pay down student debt, in a bid to recruit and retain young employees and help them plan for retirement. Lenders have hailed the policy as the hottest employee benefit today.
With more than 4…
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