Benefit eligible employees who regularly work 20 or more hours per week throughout the academic or fiscal year are eligible to participate in a program in which Principia student loans are forgiven.
 
Current minimum monthly payments are forgiven up to a maximum equal to 20% of annual salary. Employees who are eligible for staff tuition discount are limited to a total of 20% of annual salary for tuition discount and loan forgiveness. Each year, the 20% limit is first applied to tuition discount; if any portion of the 20% remains, the remainder is applied to student loan obligations. Loan forgiveness applies to employees only (not to family members).
 
For employees who terminate employment, the loan forgiveness benefit is discontinued when the next monthly payment is due.
 
Loan forgiveness is a taxable benefit; amounts forgiven are reported annually on Form W-2.
 
For questions regarding loan forgiveness please contact Milly Mensing, Student Loan Representative, at 314.275.3554 or at ext: 3554 on the St. Louis campus.