I work for a small business in Virginia (our HR department is maybe 3 people), I get a yearly bonus of 5k, which I'm very grateful for, however because of taxes it's almost half that when it actually gets to me.
Can I request my employer just make a direct payment to my student loans? It's a 5k expense to the company either way, I would benefit more from a student loan payment than just receiving cash.
Edit: Thank you to those that responded, I believe I have my answer. My question arose because of something I read about the CARES act expanding employer payments towards student loans as being non-taxable. However from your responses and a little googling it would appear that my company would have already had to have been enrolled (or I would need to ask them to enroll) in an education assistance program, which I am fairly certain they are not. And I definitely don't have the pull to make that kind of ask. Thank you all!
Submitted December 21, 2020 at 06:29PM by MadlyHatting https://ift.tt/37GyqSG
