Student Financial Services
Perkins Loan Cancellations
Under certain conditions, a borrower may have all or part of his or her Perkins loan canceled. Cancellation means that a portion or all of the principal borrowed plus accrued interested will never have to be repaid by the borrower.
Partial cancellations are granted on an annual basis for one completed 12-month period of full-time work or service. Cancellations cannot be granted for less than a full 12 months of completed work or service although the work or service may be performed for more than one employer or agency. If the work or service is performed for multiple employers or agencies, the borrower must provide certified documentation from each employer or agency for the period worked or served.
A total Perkins Loan cancellation is available under three circumstances: bankruptcy total cancellation, death total cancellation and disability total cancellation.