This new provision benefits both the employee and employer. That is getting lost in the shuffle. Student Loan Relief Extended to 2021 — Future Proof M.D Ad mpower provides financing for international students studying in the u.s. Cares act student loan reimbursement . The cares act and student loan repayment. Click on the section topics below to go directly to that section of the faq. The provision in the coronavirus aid relief and economic security (cares) act allows an employer to contribute up to $5,250 annually toward an employee’s student loans, and the payments would be excluded from the employee’s income. Cares act funding and covid expense reimbursement faq updated january 7, 2021. The coronavirus aid, relief, and economic security act (cares act) became law on march 27, 2020. Employer student loan assistance got some love in the cares act. Under the coronavirus aid, relief, and economic security (cares) act, employers can now make nontaxable payments of u...