CAMANCHE— The City of Camanche passed a resolution Tuesday to join the county’s student loan assistance program. The program offers new employees who live in town up to $30 per month toward student loan payments.
The Camanche City Council unanimously passed a resolution to approve a 28E agreement with the County with the understanding that Camanche will dedicate $5,000 for year one at a rate of $30 per month for new residents of the city for no more than five years for eligible applicants.
“That’s the most we would pay out,” Kida said. “That would cover 11 individuals and the administration fees, and we’d still have a little wiggle room left in there.
“If we had 11 people that we had to pay that out for in the first year I would say it’s a successful program and we’re attracting new young talent,” Kida said.
The agreement allows Clinton County to be the administrative agent between the Clinton County Community Student Loan Assistance Program and the third party administrator. The Clinton County Auditor’s Office will collect payments, both fees and contributions, due to the third party administrator for appropriate distribution, make all payments to the third party administrator, transmit all records in accordance with county policy, maintain confidential records in accordance with county policy, share all pertinent communications between the third party administrator and participating agencies and provide each agency of the program the amount due for the annual administrative fee each year before July 1.
Participating agencies must provide all pertinent information and payments for the program to the Auditor in a timely manner, the agreement says, make all payments to the Auditor’s Office, provide a roster of participants and any changes on a monthly basis and pay the Auditor’s Office the annual administrative fee each year before July 31.
Agencies may withdraw from the program with 90 days notice to the Clinton County Auditor’s Office. The withdrawing participating agency will be liable for all contributions and fees for which it owes.
A participating agency that fails to meet its fiscal responsibilities to the program will be terminated with written notice from the Clinton County Auditor’s Office. The program 28E agreement will be terminated on June 30, 2024, in the absence of a renewal of the agreement or amendment to the agreement.