Firefighter Cancellation

A school must cancel up to 100% of the outstanding balance on a borrower’s Perkins loan for service that includes August 14, 2008, or begins on or after that date, as a full-time firefighter.

A firefighter is an individual who is employed by a federal, state, or local firefighting agency to extinguish destructive fires; or provide firefighting related services such as conducting search and rescue, providing hazardous materials (HAZMAT) mitigation, or providing community disaster support and, as a first responder, providing emergency medical services.

The cancellation rate for each completed year of service is as follows;

• 15% of the original principal loan amount plus accrued interest for the first and second years of service.
• 20% of the original principal loan amount plus accrued interest for the third and fourth years of service.
• 30% of the original principal loan amount plus accrued interest for the fifth year of service.

Maximum Amount Canceled – Up to 100%