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1.
An employer offering a tuition reimbursement plan for its employees can offer only a limited amount tax-free to employees.
True. The IRS limits the dollar amount of tax-free contribution. Anything offered beyond that amount is treated as taxable income to employees.
2.
You can look up information on your student loan(s) online.
True. The National Student Loan Data System, a federal Website, can tell you a lot about your loans.
3.
Which of the following is true about student loan repayment plans?
Repayment plans offered by your lender involve relatively high monthly payments, which results in less total interest paid. This could be your best bet if you can afford the monthly payment.
4.
An employer's contribution to an employee's student loan debt is _______.
Tax-free. At present, an employer contribution to student loan debt is not included in taxable income.
5.
Consolidating federal loans into a private loan often provides the lowest interest rate and the best borrower protections.
False. In this situation, the borrower loses a number of important federal rights.
6.
How many qualifying loan payments must you make in order to have your student loan forgiven under the Public Service Loan Forgiveness Program?