Calculating student loan deductions: are you doing it right?

Calculating student loan deductions: are you doing it right?

After working through April, the busiest time of year for all payroll departments, I wanted to take a moment to reflect on some key changes that came into effect at the start of the new tax year. As payrollers, we know April can be intense. Accuracy is crucial, and we always aim to ensure all checks are completed thoroughly. One area I’ve seen consistently overlooked over the years is how student loan deductions are calculated. Too often, employ…