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Federal
Perkins Loan Office
Cancellation Benefits
for Perkins/NDSL
General Information
- Cancellation of principal and interest is granted for working full time in certain
fields. A percentage of 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.
- To receive a cancellation , a request for cancellation form must be completed, verified
by employer and returned to the Perkins Loan office at St. Thomas. The borrower will receive
confirmation of a processed cancellation form.
- When a request for cancellation is made, you will need to file a deferment to defer
your payments for up to twelve (12) months prior to filing the cancellation form.
Types of cancellations
For complete description and qualifications, please contact the Perkins Loan
Office
Nurse/Medical Technician – full-time
Law Enforcement/Correction Officer – full-time
Qualified Professional Provider of Early Intervention Services – full-time
Employee of Child or Family Service Agency –full-time
Teaching – full-time Head Start Program
Special Education/Handicapped
Math
Science
Foreign & Bi-Lingual Language
Shortage area for specific state
*All of the above can receive over five years a 100% cancellation.
Peace Corp/Action Programs-over 4 years – 70%
Military Service- Area hostilities – Hazardous Duty Pay – 12.5% per
year up to 50%
Totally, Permanently Disabled – 100%
Death – 100%
- If I Have a Question About My Loan,
Who Do I Call?
For more information, check out the links on the right or contact the University of St. Thomas Federal Perkins
Loan Office at (651)962-6612, or 1-800-328-6819 ext. 26612, or by fax at (651)
962-6009.
- Comments or questions can be directed to
perkinsloan@stthomas.edu
© 2005 University of St. Thomas, Minnesota USA
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Perkins Loan Office
University of St. Thomas
Room 220, Aquinas Hall
2115 Summit Avenue
St. Paul, MN 55105
perkinsloan@stthomas.edu
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