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Tax Relief for Student Loan Repayment and Employer Educational Assistance

This bill aims to ease financial burdens related to education. It introduces changes that can help citizens with student loan repayments and employer-provided educational assistance, potentially leading to greater savings and access to education.
Key points
Employers can pay off employee student loans without these amounts being added to taxable income.
The maximum tax-free amount for employer-provided educational assistance will increase from $5,250 to $10,000 annually.
The maximum deduction for student loan interest will increase from $2,500 to $5,000 annually.
Income limits for claiming the student loan interest deduction will be raised, allowing more people to qualify.
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Expired
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Additional Information
Print number: 117_HR_902
Sponsor: Rep. Stivers, Steve [R-OH-15]
Process start date: 2021-02-05
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

DEBT Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_902.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-05.

What are the main provisions?

Key points include:

  • Employers can pay off employee student loans without these amounts being added to taxable income.
  • The maximum tax-free amount for employer-provided educational assistance will increase from $5,250 to $10,000 annually.
  • The maximum deduction for student loan interest will increase from $2,500 to $5,000 annually.
  • Income limits for claiming the student loan interest deduction will be raised, allowing more people to qualify.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Stivers, Steve [R-OH-15].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Education Labor