Agency Reports and Records

• What records must an agency maintain? View more
  Each agency must keep a record of each student loan repayment determination and make such records available for review upon OPM’s request.  Records may be destroyed 3 years after the end of the service period specified in the employee's service agreement if there has been no dispute regarding the agreement. If the service agreement has not been fulfilled, there are other disputes regarding the agreement or the loan payouts, or the agreement has become the subject of litigation, the records should be kept for a minimum of 6 years from the date the facts giving rise to the dispute occurred. If debt collection is pursued against the employee for repayments made by the agency, the agency must keep the records until the debt is fully collected or compromised.
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• What are the requirements for agency reports on the use of the student loan repayment program? View more
  Before March 31st of each year, agencies must submit a written report to the U.S. Office of Personnel Management (OPM) stating when the agency made student loan payments on behalf of an employee during the previous calendar year (see 5 CFR 537.110).  Under 5 U.S.C. 5379(h)(1), each report must include--

  1. The number of employees who received student loan repayment benefits;
  2. The job classifications of the employees who received student loan repayments benefits; and
  3. The cost to the Federal Government of providing student loan repayment benefits.

  OPM will use this information in its annual report to Congress on the agencies’ use of the student loan repayment program.
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