Student Loan Reimbursement

Teachers use the same pot of money for Tuition Reimbursement and reimbursement of their Student Loans.

 

In addition to the reimbursements provided by DPS, learn more about federal loan forgiveness or loan cancellation programs you may be eligible for:

Eligibility

  • Employee must be actively enrolled in ProComp and must have a status of active with benefits (AB), Active with J1 Visa-no PERA (AV), active retired (AR), leave with pay (LP), leave summer pay/benefits (LR), or FMLA leave (LF) or Leave with full pay J1 Visa-No PERA (LV) at the time of submission and payout.
  • Employees can receive a maximum of $1000 per year (September -August) or $4000 lifetime educational reimbursement whether it is tuition, student loan reimbursement or a combination of both.
  • Student loans you take out prior to participation in ProComp are eligible. Only outstanding loan balances are eligible for reimbursement. 
  • Reimbursement is for your own student loan.

How to Receive Payment

  • Employee must be actively enrolled in ProComp and must have a status of active with benefits (AB), Active with J1 Visa-no PERA (AV), active retired (AR), leave with pay (LP), leave summer pay/benefits (LR), or FMLA leave (LF) or Leave with full pay J1 Visa-No PERA (LV) at the time of payout in order to receive payment.
  • To begin the payout process, employees submit a student loan reimbursement request form to Payroll Business Services. Include proof of outstanding loan balance (a loan payment coupon, invoice, or other statement). Employees may fax documents to 720-423-1519  or e-mail scanned documents to Payroll@dpsk12.org . Employees may submit more than one reimbursement request.
  • Employees who submit completed paperwork and documentation by the payroll deadline (currently the 10th of the month) should be paid on the end of the month paycheck. 
  • Student loan reimbursement payments are considered taxable income and will show up on the employee's W-2 (Box 1).