PayForED is proud to announce its partnership with the National Association of Enrolled Agents (NAEA) to provide training programs, software access, and consulting services to its more than 8,000 enrolled agent (EA) members. With the increasing trend of Income-Driven Repayment (IDR) usage, new legislation, and the upcoming repayment restart, EAs are a unique resource for many student loan borrowers in repayment. Most borrowers do not realize how important their tax decisions impact their student loan repayment and forgiveness options.
“IDR methods account for over 54% of student loan dollars being repaid and are the required repayment methods for student loan forgiveness,” says Fred Amrein, Founder/CEO of PayForED. “Most borrowers do not realize that the loan servicers and financial aid offices cannot provide personal financial and tax advice. Proper tax advice is critical to the borrower when making their best repayment decision. With our new NAEA partnership, this specialized tax community will be able to learn about various student loan repayment and forgiveness strategies. I am hopeful this partnership will be another major step in supporting the resolution of issues arising from student loan repayment and forgiveness crisis for many borrowers.”
The resources available through PayForED’s partnership with NAEA also offer borrowers an opportunity to obtain better student loan repayment and forgiveness answers by utilizing the association’s Expert tax advice will also be necessary for employers since many will be implementing Student Loan Assistance Benefits due to new student loan legislation.
“Student loan debt affects millions of taxpayers. Enrolled Agents can use this single vendor solution along with their tax expertise to assist their clients who are navigating this complex financial situation,” says Megan Killian, Executive Vice President, NAEA.
NAEA members will be able to earn a FINRA-listed designation called the Student Loan Repayment Advisor or SLRA. The program provides access to the following training, resources, and opportunities to begin helping student loan borrowers make better decisions:
- Comprehensive student loan repayment and forgiveness training programs.
- Access to the PayForED software platform, including the advisor software solutions and the new student loan assistance program.
- On-going training and marketing material once they complete the course and pass the designation exam.
- Partnership opportunities with other financial professionals who do not have tax expertise but provide student loan repayment and forgiveness advice
To learn more about the PayForED platform and various solutions, visit PayForED.com. To learn more about NAEA, visit www.naea.org, or if you need a tax pro, visit taxexperts.naea.org/. If you are an NAEA member interested in this new benefit, please email membership@naea.org for more information.
About PayForED
PayForED is an innovative and comprehensive platform that generates answers to the entire student loan crisis. Currently, it is the only software solution that addresses college funding, graduate school, and the student loan repayment decision process. Our innovative approach helps students, parents, and financial professionals navigate all their options in an easy-to-use format. PayForED’s new student loan assistance portal allows employers to offer this advice to their employees easily.
In addition to this cloud-based solution, they have been a CFP Quality Partner since 2018. They offer various training programs for financial professionals and have two financial designations related to college funding and student loan repayment.
As an independent company, PayForED provides a trusted second opinion to users on all aspects of the student loan and repayment process.
About NAEA
The National Association of Enrolled Agents (NAEA) has been powering enrolled agents, America’s tax experts®, for nearly 50 years and is the only professional association dedicated to EAs. NAEA is a non-profit membership organization composed of enrolled agents licensed by the U.S. Treasury Department. NAEA provides the networking, educational opportunities, programs, and services that enable enrolled agents and other tax professionals to excel beyond their peers. Enrolled agents are the only federally licensed tax practitioners who both specialize in taxation and have unlimited rights to represent taxpayers before the Internal Revenue Service. To find out more, visit www.naea.org and follow NAEA on , Instagram, and Twitter.
Media Contact:
Gerrie Amrein
Gamrein@PayForED.com
610 978 3100
Brandy Spears
bspears@naea.org
202.822.0727
