Perkins Loan Cancellation
The Federal Perkins Loan Program offers a benefit called loan cancellation for eligible participants. A percentage of the Perkins Loan balance may be cancelled for each complete year of service. The total percentage of the loan that may be cancelled depends on the type of service performed. If you are eligible for loan cancellation, monthly payments may be deferred while you complete the required service.
The benefit applies to individuals who perform certain types of public service or are employed full time in certain occupations.
- Volunteer in the Peace Corps or AmeriCorps VISTA program
- Teacher in a Title 1 school or an educational service agency that serves students from low income families or a special education teacher
- Teacher of math, science, foreign languages, bilingual education, or other fields designated as teacher shortage areas
- Member of the U.S. armed forces (serving in a hostile fire or imminent danger pay area that is different than the normal duty station)
- Licensed nurse or medical technician
- Law enforcement, corrections officer, or district attorney
- Staff member in the educational component of a Head Start program
- Employee of a nonprofit child or family services agency providing services to high risk children from low income communities
- Professional provider of early intervention services for disabled children
For service that began on or after August 14, 2008
- Staff member in a prekindergarten or child care program that is licensed or regulated by a state
- Speech pathologist with a master’s degree working in a Title 1 eligible school
- Librarian with a master’s degree working in a Title 1 eligible school or in a public library serving Title 1 eligible schools
- Attorney employed in a federal public or community defender organization
- Faculty member at a tribal college or university
More information is available in the Perkins Loan Cancellation and Discharge section of https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation .