Bills that many Americans had been dreading finally came due in October, as student loan payments resumed after a more than three-year pause.

There are over 44 million student loan borrowers in the US, and while those who don’t make payments right away are protected from default for another year, the interest on their loans will begin accruing again.

So far, the Biden administration has erased $127 billion worth of student loan debt for some 3.6 million borrowers; a plan to cancel more than $400 billion in debt was struck down by the Supreme Court. Overall, borrowers hold about $1.6 trillion in outstanding student loan debt.

Absent more comprehensive legislation, some employers are stepping in to support workers with student loan debt. There are two pandemic-era policies, in particular, that HR pros can look into as payments resume.

Offering student loan repayments. The CARES Act, a stimulus bill passed during the first month of the Covid-19 pandemic, contains a provision that allows employers to contribute up to $5,250, tax-free, toward their employees’ student loan debt.

The provision was added by amending a section of the Internal Revenue Code that allows employers to contribute this same tax-free amount as a form of tuition assistance. Prior to the pandemic, only about 4% of employers offered student loan repayment assistance benefits, but in 2020 the share jumped to 8.4%, according to Morgan Stanley at Work.

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