I was recently talking to a 40-year-old friend who is still struggling to pay off student loan debt. It was a bit sad to hear how he had put off so many life goals – like marriage, children, and graduate school – because he felt so burdened by student loan debt. He’s working two jobs and doing every side hustle you can imagine in order to make extra money.

I asked him why he doesn’t work just one job for an employer who will pay off all of his student loans. He laughed and said, “If you know of one, I’ll start working there tomorrow. I told him that, in fact, I do know of one – the United States government.

Here’s how it works. The government will make payments to your loan holder of up to $10,000 a year if you work for a federal agency under the Federal Student Loan Repayment Program. The perk maxes out at $60,000. The catch: You have to agree to work for the government for at least three years.

According to the Office of Personnel Management, in calendar year 2013, Federal agencies provided 7,314 employees with a total of more than $52.9 million in student loan repayment benefits. Fourteen federal departments and 17 agencies used the tool. The four agencies making the most extensive use of student loan repayments were the Departments of Defense, Justice, State, and the Securities and Exchange Commission.

“It’s a no-brainer. Especially if you’re a recent college grad and you’re in the market for a new job,” says The Money Coach, Lynette Khalfani-Cox. Cox is also the author of the book Zero Debt for College Grads.

“Think about how long it would take you to pay off $60,000 in loans, plus interest. That debt impacts decisions about marriage, having children, the job you take. Getting rid of that burden would be life changing. I’m shocked by how many people don’t know about this program,” Cox adds.

The program is run by the United States Office of Personnel Management (OPM). You can get more information from their website, www.opm.gov. Below is some general information they release about the program.

(SOURCE: OPM)