Perkins Loan Deferment
Loan Deferment is when you delay payments on Perkins Loan and interest doesnot accrue. Toqualify forthis deferment your loan can not be in default.Deferments are typically granted for periods of economic hardship and while attending school at least half-time. You must complete an
In-School Deferment Form
and submit it to Campus Partners for approval.
Perkins Loan Forbearance
Loan Forbearance is when your loan payments are postposted or reduced with interest accrues on the princial loan balance. However, you will still be responsible for the interest payments. Forbearance can be granted in intervals of up to 12 months for a total of 3 years. You must completea Forbearance applicationand submit it to Campus Partners with all the required paperwork.
Perkins Loan Cancellation
You may have all or part of your Perkins Loan cancelled, under certain conditions, as long as the loan is not in default. Typical conditions for Perkins Loan Cancellation are careers in nursing, teaching, law enforcement, etc. Perkins Loans can also be cancelled if the borrower dies or becomes totally and permanently disabled.
To apply for this cancellation type, you must complete a cancellation request form and submit thisform the Perkins Loan coordinator or toCampus Partner (ourbilling agent).
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