Loan Repayment Assistance for Employees of Federal Agencies
Printer-friendly versionFederal agencies are authorized by statute to set up loan repayment assistance programs to recruit and retain highly qualified employees. In fiscal year 2007, 582 attorneys working in 20 different federal agencies received loan repayment assistance benefits (the Department of Justice provided benefits to 193 attorneys and the Securities and Exchange Commission provided benefits to 188 attorneys).
Agencies determine their own program requirements within the requirements of 5 U.S.C. 5379:
- agencies are authorized to provide up to $10,000 per calendar year with a lifetime limit of $60,000
- recipients of loan repayment assistance must agree to a three year service obligation
- only federally guaranteed student loans are eligible for assistance. Eligible loans include: Federal Stafford, Federal PLUS, Federal Consolidation and Public Health Service Act loans.
The U.S. Office of Personnel Management (OPM) submits annual reports to Congress on federal agencies’ loan repayment assistance programs including:
- The number of employees who received student loan repayment this benefits;
- The job classifications of the employees who received student loan repayment benefits; and
- The cost to the Federal Government of providing student loan repayment benefits.
List: Federal Agencies Providing Loan Repayment Assistance To Attorneys In Fiscal Year 2007
- Commerce
- Defense
- Energy
- Health and Human Services
- Homeland Security
- Housing and Urban Development
- Justice
- Labor
- State
- Transportation
- Treasury
- Defense Nuclear Facilities Safety Board
- Federal Energy Regulatory Commission
- Government Accountability Office
- International Trade Commission
- National Aeronautics and Space Administration
- National Mediation Board
- Nuclear Regulatory Commission
- Office of Special Counsel
- Securities and Exchange Commission