Did You Know? A tweak to the tax code could allow employers to pay back employees’ student debt. Two bills making their way through Congress (H.R. 1713 and H.R. 4363) could give companies tax incentives for helping employees repay their student loans. Currently, if employees receive money from their employers to pay off student debt, it is considered taxable income. The bills aim to expand the tax code, allowing up to $5,250 per year to be treated as nontaxable income.