Child or Family Services Cancellation

A borrower may be entitled to receive cancellation benefits for full-time service as an employee of an eligible public or private non-profit child or family service agency who is providing services to high-risk children who are from low-income communities and the families of such children. The children must be the primary recipients of the services. The Department of Education has determined that an elementary or secondary school system or a hospital is not an eligible employing agency.

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%

Download Request for Cancellation