Retirement and Student Loans Combined: New 401(k) Perk Alleviates Financial Stress for Borrowers
Orlando, Florida – Student loan borrowers in the midst of the dilemma between reducing student loan debt and saving for retirement have received a welcome relief. A new option introduced this year allows employees with access to retirement plans like a 401(k) or 403(b) to use their student loan payments as qualifying contributions towards their retirement plan matching programs, thanks to the Secure 2.0 Act. This innovative provision aims to address the financial challenges faced …