84.037: Perkins Loan Cancellations
Overview
Program Number
84.037
Status
Inactive
Agency
Last Modified
Aug. 24, 2012
Date Posted
Sept. 11, 2011
Objective
To reimburse institutions for their share of loans canceled for Perkins Loan recipients who enter certain fields of public service and to restore to institutional revolving funds the full amounts of Direct and Federal Perkins Loans canceled for certain types of teaching service, Head Start service, military service in areas of hostility, law enforcement or corrections officer service, service as a nurse or medical technician, service to certain types of high risk children, and volunteer service.
Type of Assistance
C - Direct Payments for Specified Use
Applicant Eligibility
Higher education institutions (public, other nonprofit, postsecondary vocational and proprietary) meeting the eligibility requirements may apply.
Beneficiary Eligibility
For Federal Perkins and National Direct Loan borrowers with loans made on or after July 23, 1992, and for Federal Perkins National Direct and Defense loan borrowers with an outstanding balance as of October 7, 1998, on loans made before 7/23/92. Loan cancellation is available for service as a full-time teacher in a designated elementary or secondary school having a high enrollment of children from low-income families; as a full-time staff member in a Head Start Program; as a member of the Armed Forces (in an area of hostilities); as a volunteer in the Peace Corps or ACTION programs as a full-time law enforcement officer or corrections officer serving local, State, or Federal agencies; as a full-time special education teacher, including teachers of infants, toddlers, children, or youth with disabilities in a public or other nonprofit elementary or secondary school system, or as a full-time qualified professional provider of early intervention services in a public or other nonprofit program under public supervision; as a full-time teacher of mathematics, science, foreign languages, bilingual education, or any other field of expertise that is determined by the State education agency to have a shortage of qualified teachers; as a full-time nurse or medical technician; or as a full-time employee of a public or private nonprofit child or family service agency that is providing or supervising the provision of services to high risk children and their families from low-income communities. Cancellation provisions are different for loans made before July 23, 1992.
Related Programs
Grant Awards
Perkins Loan Cancellations direct grants
Grant Opportunities