DEPARTMENT OF THE INTERIOR/
U.S. GEOLOGICAL
SURVEY
STUDENT LOAN REPAYMENT SERVICE AGREEMENT
Chapter 370.537.1
Appendix A
Title 5 U.S.C. 5379 allows for the repayment of outstanding federally insured or guaranteed student loans that are made by educational institutions or banks and other private lenders as authorized by the Higher Education Act of 1965 and the Public Health Service Act, and defined in 5 CFR 537.102. Student loan repayments are made directly to the lender and are subject to the conditions stated in this agreement. Use of this authority in no way constitutes a right, promise, or entitlement for continued employment or noncompetitive conversion to the competitive service.
Subject to the conditions stated in this agreement, the U.S. Geological Survey (USGS) agrees to provide a student loan repayment benefit to:
Employee:
Social Security Number:
Title/Series/Grade:
As the employee receiving the repayment, I agree to:
*In rare cases, where appropriate and with the approval of the Servicing Personnel Office, the service agreement may be extended beyond 3 years due to unforeseen circumstances (e.g., the employee goes on non-pay status – Leave Without Pay for an extended period of time; sabbatical; etc.).
The service period begins when the USGS makes the first payment to: (Lender Name and Address).
In return, the USGS (through the DOI Payroll Office) will make payments on my outstanding federally insured or guaranteed loan under the following terms. Payments made under this part may not exceed $10,000 each calendar year or a lifetime total of $60,000, and may be made without a new service agreement provided I have given the Servicing Personnel Office official documentation (current within the previous 30 days) from the lending institution that states the outstanding loan balance and certifies that the loan is authorized by the Higher Education Act of 1965 or the Public Health Service Act.
Total amount of the repayment:
Number of years the repayment will be made:
Amount of repayment to be made each calendar year:
I understand that it is my responsibility to make loan payments on the portion of the loan(s) that continue to be my responsibility. Failure to continue to make these loan payments violates this agreement and terminates my eligibility for further loan repayment benefits.
I also understand that each year before another repayment can be made, I must provide the Servicing Personnel Office with official documentation (current within the previous 30 days) from the lending institution that shows the current outstanding loan balance (within the previous 30 days) and certifies that I continued to make payments during the previous year.
The National Business Center's Payroll Operations Division will make payments to ___________________ (insert name of lender) on an annual basis. The Payroll Operations Division will disburse the net amount of the repayment amount to the loan holder; however, it is the gross amount that is applied to the annual and lifetime payments. Taxes and withholdings will be deducted from the gross amount of the loan repayment amount. I understand that my W-2 Form will show the gross amount of the repayment as wages and that taxes and other assessments, deducted from the gross amount, will be shown in their appropriate categories on the W-2 Form. Payments to lenders will be in the form determined by the Payroll Operations Division. The Department of the Interior is not responsible for any late fees or penalties assessed by the loan holder(s) prior, during, or subsequent to this agreement.
I understand that I will no longer be eligible for the loan repayment incentive if, during the service period, I:
Reimbursement of the Loan Repayment Benefit
I understand that I am responsible for repaying the USGS the entire gross amount of the loan the bureau paid if during the service period:
I certify that I have discussed this service agreement with _________________________ in coordination with the Servicing Personnel Office and understand and agree with its conditions
__________________________________________
Employee Signature and
Date
__________________________________________
Supervisor/Manager
Signature and Date
________________________________________________________
Servicing
Personnel Office Representative Signature and Date
"This information is subject to the Privacy Act of 1974, as amended."