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.
This cancellation applies to all Federal Perkins loans and National Direct Student Loans.
Eligible Employment
To be considered eligible for this type of yearly partial cancellation, the borrower must be employed full-time as a staff member of a Head Start program. The borrower must be employed in a full-time professional capacity to carry out the educational component of a preschool program carried out under the Head Start Act. The program must operate for a full academic year, or its equivalent, and the borrower's salary may not exceed that of a comparable employee working in the local educational agency.
Cancellation Rates
The cancellation rate is 15% of the original loan principal amount for each complete school year until 100% of the original loan has been cancelled.
General Requirements
- Borrower must apply for deferment and cancellation by obtaining the specific cancellation forms from Boston College.
- Borrower must provide employment verification, proof of license, registration, or certification and any other documentation that the school requests to show that he or she qualifies for cancellation.
- Forms must be submitted by the deadlines established by Boston College.
- None of the loan may be cancelled for services performed either before the date the loan was disbursed or during the enrollment period covered by the loan.
- Defaulted loan amounts are not eligible for cancellation. Only cancellations for time prior to acceleration will be allowed.
- No repayments made by a borrower during a period for which the borrower qualified for cancellation may be refunded.
Download a Teaching Cancellation (Head Start) form (PDF).