On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (H.R. 748, “CARES Act”, specifically Sec. 2206(B)) made it possible for companies to pay down their employees’ student loans tax-free under the terms of a Section 127 educational assistance plan. This favorable tax treatment was extended five years through the second coronavirus relief bill (H.R. 133, “Consolidated Appropriations Act”, specifically Sec. 120), signed into law on December 27, 2020.