Do you have a Federal Perkins student loan or know someone who does? If you do, you might be eligible for Federal Perkins Loan cancellation or discharge.

There are various occupations that qualify for cancellation. Some of those occupations include teaching in an elementary or secondary school, working for a child or family services agency, working at a tribal college or university, firefighting, law enforcement, military, nursing or other medical technicians, public defenders, providers of early intervention services, librarians, speech pathologists, and volunteers (Americorps or Peace Corps).

Depending on your occupation you may be eligible for up to 100% cancellation over a specific period of time. Many of the occupations that provide 100% cancellation do so over a 5 year period of time. For your first two years in the occupation you get 15% of the original principal loan cancelled and then 20% in the 3rd and 4th year and then the remaining 30% in the 5th year.

Perkins loans may be eligible for discharge under the following conditions, bankruptcy, death, school closure, service - connected disability, spouse of a victim of 9/11 and total and permanent disability.

To get a Perkins loan cancelled or discharged you will need to contact the school that issued the loan or the schools loan provider. If you meet or think you meet the above criteria for having your Perkins loan cancelled or discharged be sure to reach out to your school. They will provide you with forms and additional instructions that are specific to your situation.