Agencies may make payments (which are taxable) of up to $10,000 a year and $60,000 lifetime for that purpose. The authority is limited to federally insured student loans made by educational institutions or banks and other private lenders.
To receive student loan repayment benefits, you would have to sign a service agreement to remain in the service of the agency for at least three years.
Depending on your modified adjusted gross income, you may be eligible for:
The American Opportunity Tax Credit of the first 100 percent of $2,000 of qualified higher education expenses, plus 25 percent of the next $2,000 of qualified expenses for the first four years.