Get Perkins Loan Deferment Cancellation Form

Your loan can be canceled only if the state considers such a program to be a part of its elementary education program. A low-income-school-directory designation that includes prekindergarten or kindergarten does not suffice for a state determination of program eligibility.

Cancellation of loans under the Federal Perkins Loan Program permits Soldiers on active duty in hostile fire or imminent danger pay areas to cancel up to 100% of their Federal Perkins Loans or National Direct Student Loans. This benefit does not apply to Stafford Loans or PLUS Loans.

“Regular” Student for deferment requirement A Perkins borrower must be a “regular student” enrolled at least half-time at an eligible school in order to qualify for an in-school deferment on a Perkins Loan. Students who are merely auditing classes are NOT eligible for inschool deferments.

Perkins loan holders who work in a public service position are eligible to have their student debt partially or fully erased through a federal forgiveness program after working in approved public service jobs and making qualifying payments.

Loans you received under the Federal Perkins Loan Program or the Federal Family Education Loan (FFEL) Program don't qualify for PSLF, but they may become eligible if you consolidate them into a Direct Consolidation Loan.

You may qualify for a Deferment on your Perkins Loan that is not in default. During deferment, you can delay payment with no interest accruing during the deferment period. Deferments are typically granted for periods of economic hardship and while attending school at least half-time.

Any payments you make until forbearance ends would qualify for a refund. Private student loan payments aren't included. Neither are payments made on some FFELP or Perkins loans.

FFEL and Perkins loans are slightly different than other federally backed student loans as these are owned by private banks, but guaranteed by the government. The banks earn revenue from servicing and maintaining those loans. So if the loans are forgiven, the banks will lose out on that income.