§ 537.103 Agency student loan repayment plans

5 CFR 537.103Before providing student loan repayment benefits under this part, an agency must establish a student loan repayment plan. This plan must include the following elements:

5 CFR 537.103(a)(a) The designation of officials with authority to review and approve offering student loan repayment benefits (which may parallel the approval delegations used for other recruitment, relocation, and retention incentives);

5 CFR 537.103(b)(b) The situations in which the student loan repayment authority may be used;

5 CFR 537.103(c)(c) The criteria to meet or consider in authorizing student loan repayment benefits, including criteria for determining the size and timing of the loan payment(s);

5 CFR 537.103(d)(d) A system for selecting employees (or job candidates) to receive student loan repayment benefits that ensures fair and equitable treatment;

5 CFR 537.103(e)(e) The requirements associated with service agreements (including a basis for determining the length of service to be required if it is greater than the statutory minimum);

5 CFR 537.103(f)(f) The procedures for making loan payments;

5 CFR 537.103(g)(g) The provisions for recovering any amount outstanding from an employee who fails to satisfy a service agreement and conditions for waiving an employee's obligation to reimburse the agency for payments made under this part; and

5 CFR 537.103(h)(h) Documentation and recordkeeping requirements sufficient to allow reconstruction of each action to approve a student loan repayment benefit.