Listed below are several types of deferments that will allow you to cancel a percentage of your Perkins loan for each year you are employed in that field.
It is your responsibility to keep our office current on any address changes or name changes that may prevent you from getting your mail.
To apply for deferment, you must complete the appropriate form and send it in to our office at the beginning of the benefit period. Failure to provide the form before the account goes into billing may result in late fees which must be paid BEFORE the deferment can be processed. Late fees are calculated at a rate of $8 per month. Deferment requests more than two years from the qualifying dates of employment will not be accepted.
To apply for a cancellation, you must send in a new form at the end of the benefit period which verifies the completion of your employment for the previous year.
The same form can be used to defer and cancel your loan.
Any payments that may have been made during a time period eligible for deferment cannot be refunded. Any interest that may have been paid will be transferred to your principal balance.
After the period of deferment ends, your loan will go into a 6 month grace period and then into billing status.
Employment Deferment and Cancellations
- Elementary or Secondary Schools Serving Low-Income Students
- Special Education
- Handicapped Education
- Fields of Expertise
- Head Start Pre-School Program
- Tribal College or University
- Speech-Language Pathologist