Perkins Loans are
federal loans that can be gradually cancelled if an individual works
as a school psychologist in Iowa, or other area where the program applies,
for five years.
In order to qualify
for Perkins Loan cancellation, an individual must have full-time, full-year
employment as a licensed school psychologist who provides services as
part of the educational curriculum. To qualify for loan postponement/cancellation,
you must provide a copy of your school psychology license and an official
job description or letter from a school official verifying your work
as part of the educational curriculum.
The first step in
the loan cancellation process is postponement. This stops all billings
and keeps your account from going past due until the end of a twelve-month
period. After you complete a full-time, full-year (defined as either
a regular academic year or the spring semester of one year and the following
fall semester) of employment, a portion of your loan will be cancelled.
If you continue in eligible employment and file all forms, your loan
will be cancelled in full at the end of five years.
Cancelation Schedule:
Years
of Employment |
%
of Original Principal Balance Cancelled |
1 |
15% |
2 |
15% |
3 |
20% |
4 |
20% |
5 |
30% |
For additional information
on Perkins Loan Postponement/Cancellation, please contact:
UNI Perkins Loans
Office of Business Operations
Gilchrist 256
Cedar Falls, IA 50614-0008
(319) 273-3539 or (319) 273-3009
penny.becker@uni.edu
joyce.willms@uni.edu
