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Federal Perkins Loans

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Cancellations

Explanation of Cancellation

  • A borrower requests the Cancellation form and has it completed by their Employer and returns it to Fayetteville State University for processing. This will defer the payments until the first year of service is completed.
  • At the end of the year of service, the borrower is sent another Cancellation form to confirm completion and returns it to Fayetteville State University for processing. This will cancel the first portion of the loan, if all things are equal.
  • The duration of this process is 5 years, depending on employment.

Some professions that may qualify for cancellation

  • Teaching
  • Nurse/Medical Technician
  • Law Enforcement/Corrections
  • Child & Family Services
  • Early Intervention Services
  • Head Start Programs
  • Military (Hazardous Zones)
  • Volunteer Service

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