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A bill with support in both parties it seems.


A summary of the Wyden bill describes it working this way: "If a 401(k) plan provides a 100% matching contribution on the first 5% of salary reduction contributions made by a worker, then a 100% matching contribution must be made for student loan repayments equal to 5% of the worker’s pay." (It would be mandatory if an employer is offering a match, but they can offer whatever match they want.)


So if you are a student that is trying to pay down your debt vs saving for retirement, you still get the match but it goes to the loan. Perhaps even better, the match does not appear to be taxed to the employee so it is like tax free income.
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