OPM – Federal Student Loan Repayment Program Calendar Year 2009, Report to the Congress

OPM: Federal Student Loan Repayment Program Calendar Year 2009, Report to the Congress, August 2010

  • “Overall for CY 2009, 36 Federal agencies provided 8,454 employees with a total of more than $61.8 million in student loan repayment benefits….Section 5379 of title 5, United States Code, authorizes agencies to establish a program under which they may repay certain types of Federally-made, insured, or guaranteed student loans as an incentive to recruit or retain highly qualified personnel. Agencies may make payments to a loan holder of up to $10,000 for an employee in a calendar year, up to an aggregate maximum of $60,000 for any one employee. In return, the employee must sign a service agreement to remain in the service of the paying agency for a period of at least 3 years. If the employee separates voluntarily or is separated involuntarily for misconduct, unacceptable performance, or a negative suitability determination under 5 CFR part 731 before fulfilling the service agreement, he or she must reimburse the paying agency for all student loan repayment benefits received.”
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