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    3 Replies Latest reply on Oct 30, 2008 9:43 AM by Lighthouse24

    Student loan repayment program as a benefit?

    erpa17 Newbie
      hello all
      this is my first question as i did not find any other topics in other threads regarding what i am about to ask ( i have been lingering for a while).
      i have formed a S-corp with a total of 1 emplyee. here is my question: has anyone formed a student loan repayment program? I have a meeting with my cpa next week, but i wanted to get some ideas with some options before i meet with him.

      thank you so much
      erpa17
        • Re: Student loan repayment program as a benefit?
          Lighthouse24 Ranger
          These programs are widely used by federal agencies, school districts, and hospitals. Aside from law firms, I'm not personally aware of any small businesses that offer this benefit. I'm guessing that it is limited (in the small enterprise world) to professional/service companies that need to recruit or retain a specialized skill that is key to business unit's success and survival. I haven't seen this issue discussed here, either -- so I hope you'll share what you learn. Welcome to the community and good luck.
            • Re: Student loan repayment program as a benefit?
              erpa17 Newbie
              so far it is not looking to good since i am the sole owner/president/ and employee...it might be possible if someone else owned the business (wife?) but i am ot sure...all of my own research has lead me to believe that this may not be an option for me (even though i am in the medical field)...however, i still have a meeting with my cpa and he my know better...
              thank you for your reply

              erpa
                • Re: Student loan repayment program as a benefit?
                  Lighthouse24 Ranger
                  So YOU are the employee you were talking about? You can verify this with your CPA, but I'm pretty sure that even if an employer pays off a student loan directly to the lender, the amount paid is still considered taxable income to the employee. So I'm not seeing how this would benefit you exactly . . . still interested in hearing if/how it does when you learn more, however.