Volunteer Service Cancellation

A borrower may qualify for a cancellation for volunteer service in the Peace Corps or Americorps*VISTA (under Title I, Part A of the Domestic Volunteer Service Act of 1973).

Americorps volunteers do not qualify for this cancellation unless their volunteer service is with Americorps*VISTA. An Americorps*VISTA volunteer may only qualify for this cancellation if the Americorps*VISTA volunteer elects not to receive a national service education award for his or her volunteer service. The Americorps*VISTA volunteer must provide appropriate documentation showing that the volunteer has declined the Americorps national service education award.

An authorized official of the Peace Corps or Americorps*VISTA program must sign the borrower’s cancellation form to certify the borrower’s service.

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.

Maximum Amount Canceled – Up to 70%

Download Request for Cancellation