The Best-Kept Secrets About Federal Service
If you are thinking about jumping into a career as a federal employee or just started your journey as one, you may not be aware of the numerous opportunities and benefits that you get as a federal employee. From advancing your skills and education to discounts and loan forgiveness, there are dozens of programs and opportunities in place that federal employees can really benefit from.
See our list of little-known benefits of being a Fed:
One of the highest-rated benefits for job seekers in 2020 was the ability to further your education and skillset on the job. Each branch of the federal government has different rules and regulations regarding these programs, though most branches are happy to offer an extensive array of options for employee improvement. Make sure that you ask your manager or supervisor if there are any programs that you can apply for, as many will help with or fully pay for the costs involved with furthering your education and job-oriented skills. Certain agencies also offer mentorship programs in the form of shadowing and extensive training programs that allow you to expand your professional network while gaining skills to help give you a leg up in your professional life.
Discounts for Federal Employees
Federal employees also receive a number of different discounts on things ranging from technology purchases to hotel stays. As with the mentorship programs, these discounts will vary depending on the branch of the government that you work for, though there are a few universal discounts federal employees will receive. Many newspapers and online editorial sites offer discounts on their online and print services. If you are looking for a deal on your phone bill, companies like Verizon offer full discounts on both phone plans and new phones with contracts for most federal employees. Most hotels also offer discounted room rates for federal employees traveling for both business and pleasure. Depending on your job title and the programs that you enroll in, you could qualify for a number of different discounts on tech ranging from laptops to software and hardware updates.
Public Service Loan Forgiveness
As a long-lasting federal employee, you will be given access to the exclusive Public Service Loan Forgiveness Program. This program allows individuals who have made 120 qualifying monthly payments under a qualifying repayment plan to have the remaining balance cleared. Essentially, this program will erase the remainder of certain loans after you have been employed with the federal government for 10 years and you have been making payments on that loan for that time. We recommend checking to see if you qualify for this annually by submitting a Public Service Loan Forgiveness: Employment Certification Form. This will ensure that you get all the benefits of this amazing program with little to no hassle on your end.
If you are a Civilian Fed within your first 365-days of employment, you qualify to apply for Guaranteed Issue Group Term Life Insurance* coverage, with no medical underwriting and guaranteed acceptance.** If you want to learn more about WAEPA benefits and life insurance options, contact our team today.
*Underwritten by New York Life Insurance Company, NAIC #66915, On Policy Form GMR-FACE/G-30280-0
**When you apply for Guaranteed Issue Group Term Life Insurance coverage through WAEPA, you cannot be declined. There are no medical requirements. To be eligible, Civilian Federal Employees must:
Be a United States citizen;
Be less than 70 years of age;
Apply within one year of a first-time, non-military, government hire.
Those who meet our membership conditions qualify for $25,000 to $100,000 in life insurance coverage. You are not eligible if you moved from one federal government position to another or if you are an active member of the United States military.
This article is intended to provide general information and shouldn't be considered legal, tax or financial advice. It's always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.