An Act promoting student loan repayment

This bill allows Massachusetts businesses to claim a tax credit for money they use to help employees pay off student loans. To qualify, the employer must provide payments toward the principal or interest of a qualified education loan to an employee who lives in the state. The credit covers 100% of the assistance paid, up to a maximum of $4,500 per employee per year, and any unused portion can be carried forward for five years. This policy directly affects employers who offer student loan repayment benefits and the employees receiving those payments.