Loan Repayment Procedures. DFAS will make payments to the lender on a biweekly basis. DFAS will determine the amount to be paid by dividing the annual repayment amount by the number of remaining pay periods in the year for which payments are made. This usually will be 26 payments per year, except for years having 27 pay periods. In those cases, 27 biweekly payments will be made. The loan repayment amount will be considered as taxable wages and tax withholding will be made on a biweekly basis as appropriate. The DoD is not responsible for any late fees or penalties assessed by loan holders prior to, during, or subsequent to this agreement.
Loan Repayment Procedures. DFAS will make payments to the lender on a biweekly basis. The loan repayment will be considered as taxable wages and tax withholdings will be made on a biweekly basis as appropriate. The employee is responsible for any late fees or penalties assessed by the loan holder(s) prior to, during or subsequent to this agreement.
Loan Repayment Procedures. The Interior Business Center's Payroll Operations Division will make payments to (insert name of lender) on an annual basis. The Payroll Operations Division will disburse the net amount of the repayment amount to the loan holder; however, it is the gross amount that is applied to the annual and lifetime payments. Taxes and withholdings will be deducted from the gross amount of the loan repayment amount. I understand that my W-2 Form will show the gross amount of the repayment as wages and that taxes and other assessments, deducted from the gross amount, will be shown in their appropriate categories on the W-2 Form. Payments to lenders will be in the form determined by the Payroll Operations Division. The Department of the Interior is not responsible for any late fees or penalties assessed by the loan holder(s) prior, during, or subsequent to this agreement.
Loan Repayment Procedures
