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Thursday, May 17, 2012

the opportunity

Compensation

Student Loans

Federal agencies are authorized to repay student loans under the Federal Student Loan Repayment Program, as provided for in Part 537 of Title 5, Code of Federal Regulations. The amount paid by the agency is subject to the following maximum limits:  (1) $10,000 per employee per calendar year, and (2) a total of $60,000 per employee. Finalists accepting appointments as Fellows are eligible to receive student loan repayments; however, these programs are agency-specific.

Before repaying any student loans, the agency must establish a student loan repayment plan, which is to include the designation of officials with authority to review and approve repayment benefits, situations when the loan repayment authority may be used and criteria that must be met, procedures for making loan payments, a system for selecting employees to receive repayment benefits that ensures fair and equitable treatment, requirements for service agreements, and documentation and recordkeeping requirements.

For complete details, visit Federal Student Loan Repayment Program External Link Icon .

Finalists should ask the hiring agency if it participates in this program when interviewing for the position.

Information about the Public Service Loan Forgiveness Program can be found under the U.S. Department of Education's website at studentaid.ed.gov External Link Icon .