Fed. Agencies & Student Loans?

[ASUsundevil5]

I searched and posted a thread regarding local PD and student loans, but I was curious if the Federal Government agencies have a program or some type of system that allows for 1811's to get lower rates or loans paid off.

If so, I assume it specifies what type of loans, most likely Perkins I bet..

[eff-bee-eye]

Yes, the federal government does have a plan, as outlined in Title 5, United States Code (U.S.C.), Section 5379, and 5 Code of Federal Regulations, Part 537, authorize repayment of certain federally insured student loans to assist agencies when trying to attract individuals to the federal service or to retain highly qualified employees.

http://www.usdoj.gov/jmd/ps/chpt2-12.htm

For DOJ at least, they will pay up to $60,000 total, in 10K a year payments (before taxes of course). You have to sign a 3-year service agreement to your agency, beginning the day the first repayment to your account is made.

My agency puts out an announcement once a year. You have to apply to the program, and (for the existing employees) justify why it would benefit the government to pay off your student loans and RETAIN you as an employee, compared to you leaving the government for a more lucrative career in the private sector. At least that was what my rationale was. I would say about 50% of the applications were approved last year. I was denied the first year I applied, but got in the following year. Not a bad deal at all. One less thing to worry about. Now if they would only pay off my wife's PRIVATE school loans. :rolleyes:

[ASUsundevil5]

Thanks, good information to know for future purposes

[tunlrat]

When I was sitting in a US Capitol Police recruiting session in '03, we were TOLD that USCP was "working" on getting tuition re-imbursement. Not sure what the status is on that.

[foxmulder]

we do have tuition reimbursement at USCP. They'll give you 10k for every 2 years of commitment. So if you have 40k in debt you have to commit for 8years. Some take advantage some don't.

[tunlrat]

Nice!

Think my dept. has like 3k--a year! That'll pretty much buy books...

[ASUsundevil5]

Nice I hope to find an agency that has solid education programs like the above mentioned

[jvale00]

I'd be lucky to get a $100.00 from the VA as the nurses are placed on a priority due to their "direct patient care" status. :mad:

[eff-bee-eye]

Just got my recent statement, and saw that my total balance was just cut in half after a recent government payment. I tell ya, seeing "No Payment Due" on my bill was pretty sweet. And next year, it will be wiped clean..can't complain about that. I sure am glad I didn't pay it off a few years ago with the money from my house.

See Mom, I told you procrastination pays off!

[Newyork77]

Does anyone know if the NYPD has a repayment program for student loans??

[Kimble]

Does anyone know if the NYPD has a repayment program for student loans??

This area is called "Federal Questions" because the information provided is relevant to federal agencies. You may wish to seek your information in another area of the forum.

[Newyork77]

Sorry.... i didn't notice

[Hebem173]

Here is the link for student loan repayment. It is up to the agency to decide if they want to participate. CBP is not as of this time, at least that's what I am being told.

http://www.opm.gov/oca/pay/studentloan/

[BP348]

CBP does have a program but when DHS was formed they suspended the program due to budget problems and now three years later CBP still does not have a program. I check every semester!! The program is pretty bad. CBP onlyoffers $1000 a year, period. Two of my classes in one semester is $1100 without books. But $1000 is still $1000 I don't have to pay.

Anyone who's agency provides or has a program should take advanatage of it.

EFF-BEE-EYE,
Even when USBP was part of DOJ the program was bad something close to what the CBP program is now. You guy's are lucky.

[Line of Duty]

Does anyone know if this applies to student loans that were taken out prior to employment with the agency, but for which you are still making payments for after you begin employment?