|Subchapter 4537 - Repayment of Student Loans
Section A - When Student Loans Can/Can't be Repaid
| Appointments Covered/ Not Covered
| Limits on Loan Payments
In determining the amount of loan repayments, take into account your employee's value to the agency and how far in advance you can commit funds. If budgetary considerations are an issue, you can determine the repayment benefit every year (you must include this consideration in your written agreement with your employee).
Payment amounts are subject to the following limits:
$10,000 per employee per calendar year, and
A total career payment of $60,000 per employee (per Public Law 108-123).
|Loan Payment Facts||
Note: Human Resources Division's Leave and Compensation Unit, Minneapolis, Minnesota, in conjunction with NFC, will work diligently to ensure that the timing of payments to the lender coincides with the date the loan payment is due.
|Other Available Pay Flexibilities||You may use this incentive in addition to other pay flexibilities (e.g., Recruitment bonus, retention allowance).|