FCW published a story this week on the youngest feds -- those just entering the federal workforce. These 20-somethings were attracted to federal service because they believed in the agency mission and found the work-life balance to be a fair tradeoff for a lesser salary. Although health insurance, disability coverage, retirement investments are probably not the benefits a 20-something puts at the top of his perk list, maybe student loan repayment is.
According to an August 8 press release, OPM’s Federal Student Loan Repayment Program allows federal agencies “to repay as much as $10,000 for an employee in a calendar year and 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 three years. The law also requires agencies to report annually to OPM on their use of the student loan repayment program during the previous fiscal year.�
Wow.
Find out more about the federal student loan repayment program.
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