Tax Help for Student Loan Debt?

There are a growing number of tax bills in Congress to provide relief for those with student loans. The Employer Participation in Repayment Act (S. 2457) would expand the exclusion for employer-provided education assistance to include the repayment of student loan debt. Another measure called the Make Student Grants Truly Tax-Free Act (S. 2462) would exclude student loan aid (e.g., Pell Grants) from gross income. While the chances for enactment are small, consider the fact that a Federal Reserve Study last year found that high student debt impeded entrepreneurship.