Student Loan Repayment Agreement

Posted on 17. Dec, 2020 by in Uncategorized

[AGENCY] reserves the right to terminate the agreement in advance if funding is no longer available after the first fiscal year. If payments under this paragraph are discontinued, the minimum length of service – 3 years – must still be completed or you are required to repay [AGENCY] as part of the [AGENCY] collection process all loan payments that [AGENCY] made on your behalf under this agreement; If 3 years of service have already been completed under this service contract, any remaining service obligations are waived at the end of the fiscal year in which funding expires. You will be notified at least 90 days before the termination to give you time to make other arrangements. In the event of a change in existing legislation or regulations that would result in a change in the terms of this agreement, the parties agree that the agreement is subject to them. If such an amendment reduces the minimum service time and existing agreements are potentially affected, [AGENCE] agrees to renegotiate the “time of service” section of this agreement if it deems it appropriate. All other than existing laws or regulations must be agreed in writing by the parties. I followed the principles of the benefits system by choosing the aforementioned employee who receives loan repayments and I took into account the need to maintain a balanced workforce in which women and members of root and ethnic minority groups are properly represented in the service of the state. The source of funding for this agreement is (accounting information: type of funds, R-R, if not the employee`s accounting information). For the duration of this service contract, they must retain at least one fully successful or equivalent performance evaluation and applicable security permission (access authorization). If your performance assessment falls below this level or if your security contract is revoked or if you are unintentionally separated for misconduct, credit payments will be immediately discontinued and you are required to repay [AGENCY] the total amount of credit payments that [AGENCE] has made on your behalf as part of [AGENCY`] collection procedure. Appendix: Information on each loan and for the lender/ticket holder If you apply and are selected for a position [AGENCY COMPONENT] other than [AGENCY COMPONENT]s policy is that the profits [AGENCY COMPONENT] are not required to assume the credit repayment obligation, but you must complete each remaining period of service to meet the statutory minimum of 3 years, in order to prevent [AGENCY] from repaying, as part of the AGENCY [AGENCY] collection procedure, the full amount of loans that [AGENCE] has paid on your behalf under this agreement. As a result, your right to intermediation as a surplus agent and/or distributed under the Career Transition and Assistance Program does not grant you a credit refund by the recipient [COMPONENT AGENCY]. However, if you are assigned to another [AGENCY COMPONENT] as a management action, the winner [AGENCY COMPONENT] assumes full responsibility for this agreement.

This service contract for Student Loan`s repaying program is an employment contract between [AGENCY] and (employee`s name) (hereafter referred to as “you” or “yours”) to define the conditions under which you declare to work as a federal employee at [AGENCY]s [AGENCY COMPONENT] in exchange for [AGENCY COMPONENT] that prepay all or part of your outstanding student loans by making loans to the lender.

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