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Board approves IRC §127 educational assistance plan to help teachers with loan payments
Summary
Forest Hills Board unanimously approved an IRC Section 127 educational assistance plan that would allow the district to make up to $200 per month in tax‑free student‑loan payments for eligible teachers; district will apply on teachers' behalf and certify eligibility.
The Forest Hills Board of Education voted unanimously on March 18 to approve an educational assistance plan under Internal Revenue Code Section 127 designed to help retain and recruit teachers by providing tax‑free student‑loan support.
Denise (district HR/business office) explained the state created the grant opportunity to support teacher retention; under the plan the state would provide up to $200 per month for qualifying teachers. Denise said some districts with higher poverty levels may qualify for $400 per month, but Forest Hills would qualify for $200. The district must apply on behalf of participating teachers and certify that teachers meet eligibility requirements; qualifying teachers typically must be enrolled in eligible student‑loan repayment plans that count toward forgiveness timelines.
Board members asked clarifying questions about per‑teacher amounts, estimated interest from staff (Denise said about 30 teachers had reached out and the district had identified four who qualify), and payment mechanics. Denise described the likely reimbursement process: the state would send funds to the district, which would then reimburse teachers for documented monthly payments to avoid overpayment if amounts change midyear.
Speaker 15 moved to approve the plan and it was seconded. A roll‑call vote recorded unanimous 'Yes' responses from members present and the measure passed.
The plan is intended to be an additional retention tool; the administration will manage eligibility certification and work with interested teachers to submit applications to the state.
