An Educational Assistance Program Can Bring Many Benefits
Educational assistance programs provide access to learning opportunities for staff members to gain new skills and maintain up-to-date knowledge in their field with financial assistance from their employer. This is a commonly offered employer benefit, but not all business owners might be aware of the current opportunity to expand this offering. The CARES Act of 2020 included an expansion of Section 127, which allows employers to expense payments to employee student loans in addition to previously allowed payments on tuition, fees, books, and supplies. This expansion was extended through Dec. 31, 2025 by the Taxpayer Certainty and Disasters Tax Relief Act.