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Military (Combat) Cancellation

Important

If you are receiving or applying for an employment-related deferment or cancellation benefit, you are required to use Boston College forms, which may be obtained from the links below. If you have questions or concerns about cancellation and deferment benefits that relate to your employment, please contact Boston College directly at 1-800-294-0294.


Eligible Employment

A borrower is entitled to cancellation of up to 50% of a Perkins Loan or NDSL for service in the U.S. Armed Forces in an area of hostility or an area of imminent danger that qualifies for special pay under Section 310 of Title 37 of the U.S. Code. The cancellation rate for every complete year of qualifying service is 12% of the original principal loan amount plus any interest that accrued during the year.

To qualify for military cancellation, a borrower must be serving a period of full-time active duty in the Armed Forces (that is, U.S. Army, Navy, Air Force, Marine Corps, or Coast Guard). A member of the National Guard or the Reserves serving a period of full-time active duty in the Armed Forces is also eligible to receive a military deferment.

For a Perkins loan or NDSL cancellation, the service in the Armed Forces must be in an area of hostility or an area of imminent danger that qualifies for special pay under Section 310 of Title 37 of the U.S. Code.


Cancellation Rates

The cancellation rate of 12% of the original principal loan amount is for each complete year of service; service for less than a complete year or any fraction of a year beyond a complete year does not qualify.

Maximum Amount Canceled:

Up to 50% of loan at a rate of 12% of original principal loan amount and accrued interest for each complete year of qualifying service.

Download a Military (Combat) Cancellation form (PDF).