Goodly Tax-Free Student Loan Benefits — The CARES Act allows employers to pay student loans tax free

This is really cool @greg_poulin! So basically the CARES Act allows an employer to provide a student loan repayment entirely tax-free? Is this a temporary benefit from the CARES Act or is this here to stay? Does Goodly support paying over the $5,250 amount limited by the CARES Act even if that extra amount is taxable?

Hey PH,  Greg from Goodly introducing the first tax-free student loan repayment as an employee benefit. One critical provision within the CARES Act allows employers to make tax-free contributions toward their employees’ student loans for the first time.  At Goodly we partner directly with employers to design 401(k)-like student loan benefits programs. The CARES Act allows businesses to contribute $5,250 toward student debt this year, due to the coronavirus. We designed Goodly to be a turn-key signup process, which takes employers just 10 minutes to sign-up. With Goodly you get:  - Highly customized platform: We designed Goodly to be flexible enough to support employers of all sizes and budgets  - 30% reduction in repayment: The average employee pays off their student loans 30% faster than they otherwise would - The hottest employee benefit: Student loan benefits now rank as the single most popular employee benefit for millennial and gen z employees We would love to hear any of your thoughts or feed back here or by email at gregory@goodlyapp.com Thanks!

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This is awesome! Do you think this legislation will become permanent?

Wow, this is seriously incredible.

@greg_poulin the world needs more mission driven products like this. Kudos!

This is awesome! Wish I had this