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Education Beginner: Repaying Your Student Loans

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1.
An employer's contribution to an employee's student loan debt is _______.
Choose wisely. There is only one correct answer.
Tax-free. At present, an employer contribution to student loan debt is not included in taxable income.
2.
An employer offering a tuition reimbursement plan for its employees can offer only a limited amount tax-free to employees.
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True. The IRS limits the dollar amount of tax-free contribution. Anything offered beyond that amount is treated as taxable income to employees.
3.
When consolidating your student loans into one loan, the one loan will usually give you a _______ time to repay the loan.
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Longer. This longer time period also results in lower monthly payments, but usually more interest paid overall.
4.
Which of the following student loans qualify for loan forgiveness under the Public Service Loan Forgiveness Program?
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Direct Loans. Only loans from the Direct Loan program qualify.
5.
Which of the following is true regarding student loans?
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Different rules apply to federal and private student loans. It's important to know the difference.
6.
Which type of federal loan is need-based?
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Direct subsidized loans. The others are not need-based.