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Final Regulations on Repayment of Student Loans

Tuesday, November 4, 2008
CPM-2008-17
MEMORANDUM FOR: 
Human Resources Directors
From: 
Nancy H. Kichak, Associate Director, SHRP
Subject: 
Final Regulations on Repayment of Student Loans

I am pleased to inform you the U.S. Office of Personnel Management (OPM) has issued final regulations concerning the repayment of student loans. The regulations are available at http://www.opm.gov/fedregis.

These final regulations revise the rules governing the authority to offer student loan repayment benefits to candidates for Federal jobs or current Federal employees when necessary to recruit or retain highly qualified personnel. These revisions include certain policy changes and clarifications to assist agencies in taking full advantage of the Federal student loan repayment program. We have updated our student loan repayment guidance on the OPM Website to reflect these changes. (See http://www.opm.gov/oca/PAY/StudentLoan/index.asp.)

In accordance with the new final regulations, agencies are now required to submit their reports to OPM by March 31st of each year on their use of the student loan repayment authority during the previous calendar year. Previously, agencies were required to submit their reports to OPM by December 31st of each year on their use of the student loan repayment authority during the previous fiscal year. (For example, see the Fiscal Year 2007 data call memorandum at http://www.opm.gov/oca/compmemo/2007/2007-16.asp.) (See 5 CFR 537.110(b).) Therefore, the next agency student loan repayment report will be due to OPM by March 31, 2009.

For further information, you may contact your agency’s assigned OPM Human Capital Officer. Employees should contact their agency’s human resources offices for assistance.