Bronco billy had a question on a loan to an employee, specifically:
View Employee Loan Repayment Agreement
Gif. How does a loan agreement serve? The federal student loan repayment program permits agencies to repay federally insured student loans as a recruitment or retention incentive for candidates an employee receiving this benefit must sign a service agreement to remain in the service of the paying agency for a period of at least 3 years.
Free Sample Employee Loan Agreement from lh4.googleusercontent.com
Employees for whom the department pays a student loan repayment incentive must agree to work for the department for a period of 3 years (see 5 u.s.c each employee is responsible for reviewing the terms and conditions in his/her service agreement before he or she signs the agreement, and for. Employer student loan repayment is still rare compared with other benefits like health insurance and retirement match. The employee also agrees that any outstanding amount will be deducted from the employee's final pay check upon resignation or termination of employment from the employer.
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The employee acknowledges and agrees that interest at a rate of _(_____%) per annum shall accrue on any outstanding amount and that repayment shall first be applied to interest and thereafter to the principal amount. The employee acknowledges and agrees that interest at a rate of _(_____%) per annum shall accrue on any outstanding amount and that repayment shall first be applied to interest and thereafter to the principal amount. The use of a loan agreement is prudent in such instances as it protects the borrower. However, this may be seen as an acceleration of debt repayment i.e.
