Employee and Retiree Service Center→Employees→ Student Debt Relief Fund for SEIU Employees
Supporting services employees who incurred personal student loan debt prior to their employment with MCPS may be eligible for assistance to help them pay off their student loans sooner. The Board of Education and SEIU Local 500 established MCPS's Student Debt Fund for SEIU Local 500 unit members as part of the fiscal year 2018-2020 negotiated agreement.
The goal of the fund is to provide assistance for up to 5 percent of the employee's original loan per year, paying off not more that 50 percent of the balance brought into MCPS, not to exceed the existing balance in any given year. The fund is intended to pay for programs at universities, trade schools, training programs, and other institutes of learning that provided supporting services professionals the education needed to serve the MCPS community and do their jobs well.
To be eligible for MCPS's student debt relief, you must—
have been employed for a minimum of 12 months in an SEIU bargaining unit position;
have attended a workshop on understanding the Student Debt Relief Fund and additional student debt relief options for which you may be eligible;
have acquired student loan debt for your personal use (i.e., the loan was incurred for your education and not for a family member's education);
have incurred the student debt for studies relevant to any employment with MCPS;
have incurred the student debt—for which you are currently in loan repayment—prior to your employment with MCPS;
be in good standing with the lender to whom you are repaying the eligible student debt;
apply to the fund between February 15 and March 31 each year.
The 2020 application period will begin on February 15, 2020.