Generating Opportunity by Forgiving Educational Debt for Service Act of 2005 - Amends the Internal Revenue Code to exclude from the gross income of Federal employees student loan repayments by the Federal Government on behalf of such employees. Exempts such repayments from social security taxes.
Requires the Director of the Office of Personnel Management (OPM) to include in the annual report to Congress on student loan repayment benefits information identifying Federal agencies that have not provided such benefits.
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