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General Information

  • Cancellation of principal and interest is granted for working full time in certain fields. A percentage of the total loan borrowed can be cancelled for each year of work. Typically the cancellation is 15% of the total loan for the 1st and 2nd year, 20% of total loan for the 3rd and 4th year and 30% for the 5th year.

University Accounting Service

P.O. Box 932

Brookfield, WI  53008-0932

The borrower will receive confirmation of a processed cancellation form.

  • Before a request for cancellation is made, you will need to file a deferment to defer your payments for twelve (12) months prior to filing the cancellation form.

 

Types of cancellations

For complete descriptions and qualifications, please contact the Perkins Loan Office.

Can receive  a 100% cancellation over five years:

Nurse/Medical Technician full-time

Law Enforcement/Correction Officer full-time

Firefighter

Public Defender

Librarian

Speech Language Pathologist

Spouse of 9/11 Victim

Qualified Professional Provider of Early Intervention Services full-time

Employee of Child or Family Service Agency full-time

Faculty - Tribal college or university

Teaching:

Full-time Head Start Program

Prekindergarten / Child care Program

Low-income Area

Special Education

Handicapped

Math

Science

Foreign and Bi-Lingual Language

High Risk Children

Shortage area for specific state


 

Other Cancellation Programs:

Peace Corp/Action Programs-over 4 years 70%

Teaching

Military Service- Area hostilities Hazardous Duty Pay 12.5% per year up to 50%

Bankruptcy

Totally, Permanently Disabled 100%

Death 100%

 

FOR ADDITIONAL ELIGIBILITY REQUIREMENTS, click on the highlighted phrase:

 

Eligibility Requirements 
Cancellation Criteria Federal Perkins National Direct Made on or after 07/23/92 Federal Perkins Made Prior to 07/23/92 National Direct Made Prior to 07/23/92 National Defense
1. Total and permanent disability or death of borrower
100%
100%
100%
100%
2. Full-time employment in a Head Start Program
100%

(15% per year)

100%

(15% per year)

100%

(15% per year)

N/A
3. Full-time law enforcement or correction officer
100%

(over 5 years)

100%

(over 5 years)

100%

(over 5 years)

N/A
4. Full-time teacher in a low income school eligible for funding under Chapter 1 of the Education Consolidation and Improvement Act of 1981
100%

(over 5 years)

100%

(over 5 years)

100%

(over 5 years)

100%

(15% per year)

5. Full-time special education teacher, including teacher of infants, toddlers, children or youth with disabilities.

100%

(over 5 years)

100%*

(over 5 years)

100%*

(over 5 years)

100%*

(over 5 years)

6. Provider of early intervention service in a public or non-profit program under public supervision.
100%

(over 5 years)

100%*

(over 5 years)

100%*

(over 5 years)

100%*

(over 5 years)

7. Full-time teacher of handicapped students in a public or non-profit elementary or secondary school
N/A
100%

(over 5 years)

100%

(over 5 years)

100%

(over 5 years)

8. Full-time teacher of mathematics, science, foreign languages, bilingual education, or any field of expertise determined by the state education agency to have a shortage of qualified teachers.

100%

(over 5 years)

100%*

(over 5 years)

100%*

(over 5 years)

100%*

(over 5 years)

9. Provider or supervisor of the provision of services to high risk children from low-income communities and their families.
100%

(over 5 years)

100%*

(over 5 years)

100%*

(over 5 years)

100%*

(over 5 years)

10. Nurse or medical technician providing health care services
100%

(over 5 years)

100%*

(over 5 years)

100%*

(over 5 years)

100%*

(over 5 years)

11. Peace Corps or ACTION programs volunteer
70%

(over 4 years)

70%

(over 4 years)

70%

(over 4 years)

70%

(over 4 years)

12. Military Service in U.S. Armed Forces serving under hazardous duty pay.
50%
 
(12.5% per year of qualifying service through 8/14/08. Service Beginning on or after 8/14/08, cancellation is 100% over 5 years)
 
13. Full-time teaching in a public or non-profit elementary or secondary school, an institution of higher education, or an overseas Department of Defense elementary or secondary school
N/A
N/A
N/A
50%

(10% per year)

14. Bankruptcy In some cases In some cases In some cases In some cases
 15. Spouse of Victim of 9/11/2001  For loans made before 9/11/2001, 100% of balance outstanding when cancellation is requested.
 16. Public Defender **

100%


(over 5 years)

100%


(over 5 years)

 100%


(over 5 years)

 100%


(over 5 years)

 17. Teacher of prekindergarten or child care program **

100%


(15% per year)

100%


(15% per year)

100%


(15% per year)

100%


(15% per year)

 18. Librarian in or serving a designated low-income school **

100%


(over 5 years)

 100%


(over 5 years)

 100%


(over 5 years)

 100%


(over 5 years)

 19. Speech Language Pathologist in a designated low-income school **

 100%


(over 5 years)

 100%


(over 5 years)

100%


(over 5 years)

100%


(over 5 years)

 20. Firefighter **

100%


(over 5 years)

100%


(over 5 years)

100%


(over 5 years)

100%


(over 5 years)

 21. Faculty at a Tribal college or university **

100%


(over 5 years)

100%


(over 5 years)

100%


(over 5 years)

100%


(over 5 years)

*Benefit eligibility is effective 10/1/98.

**Benefit eligibility begins 8/14/2008.

 

CONTACT INFORMATION
Student Financial Services
21 Tillman Hall
Rock Hill, SC 29733, USA
803/323-2165
803/323-2286 (fax)
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