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Surgent’s Student Loan Repayment & Forgiveness:Impact on Individuals & Employers (SU1742/22)

Member Price $115
Non-Member Price $119
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December 14, 2022 @ 2:00 pm - 4:00 pm

Event Description

For student loan borrowers, the new Student Debt Relief Program announced by President Biden is an excellent opportunity to reduce their debt. There is a growing need for better tax planning advice from tax practitioners since the IRS and Department of Education are automating this information process starting in mid-2023. This automation will impact both FAFSA and the Income-Driven Repayment (IDR) methods. IDR usage has increased by 75% since 2016 and is also required to be used for many of the loan forgiveness programs.

Designed For

Accounting and finance professionals and benefit consultants who need to better understand this new legislation

Objectives

Be familiar with student loan repayment and forgiveness rules Understand the increased need for better tax advice in student loan repayment and college funding Be knowledgeable of student loan assistance benefits

Major Subjects

The four parts of the Student Debt Relief Plan The importance of year-end tax advice, especially for 2022, due to the 1/1/2023 repayment restart and the income certification requirement Action plans for each student debt relief process Automation of IRS data into the various Department of Education systems Changes in student loan repayment trends directly related to personal tax planning and benefit decisions Increased opportunity for tax practitioners due to the limited advice from student loan servicers and college financial aid offices Implementation items for tax-free student loan reimbursement for employees and employers Loan forgiveness opportunities for employers that are 501(c)3 entities and government agencies Impact of student loan assistance benefits on company retention and recruitment Importance of the Public Service Loan Forgiveness (PSLF) limited waiver expiration FAFSA simplification impact and need for better tax planning in college funding Increased college cost due to FAFSA simplification calculation changes Increased use of IDR and the need for better tax planning and benefit selection Benefits of proper student debt structure for repayment, forgiveness, and parent liability Employer implementation planning for student loan assistance benefit    <li>Importance of plan data source for student loan assistance compliance</li>    <li>Internal and external audit decisions for student loan assistance compliance

Prerequisites

None

Instructions

None

Details

Date:
December 14, 2022
Time:
2:00 pm - 4:00 pm
Credit:
2 Credits

Other

Credit Hours
2
Max Registrations
0
Course Type
Webinar
Course Level
1