Cancellation Conditions (Perkins Loan)

Service in an agency such as Children’s Village may qualify you for cancellation of your Perkins Loan.

If you have any questions about the terms of your Federal Perkins Loan, repayment obligations, deferment, forbearance, or cancellation, check with the school that made the loan.  Only that school may grant deferment, forbearance, or cancellation.

Child Care Workers
This demonstration program is intended to bring more highly trained individuals into the child care profession and to retain those providers for longer periods of time.  To be eligible, you must have received an associates or bachelor’s degree in early childhood education and have worked full-time for two consecutive years as a provider in an eligible child care facility that serves a low-income community.  To receive an application form, you may call the Child Care Provider Loan Forgiveness support desk toll free at 1-888-562-7002.  You may also write to the Child Care Provider Loan Forgiveness Program, PO Box 4639, Utica, NY 13504-4639.

Teaching
Students who become full-time teachers in an elementary or secondary school that serves students from low-income families can have a portion of their Perkins Loan forgiven under the National Defense Education Act.  This program forgives for teaching services as follows:

If received a Stafford loan on or after October 1, 1998 and have taught full-time for five years in a low-income school, you may be eligible to have a portion of the loan cancelled.  This applies to Stafford Loans, Direct Subsidized and Unsubsidized Loans, and in come cases Consolidated Loans.