Partial cancellation of Federal Perkins Loans for teachers

You may be eligible for partial cancellation of your Federal Perkins loan if you are employed full-time as a teacher in certain categories as described below. A more detailed description of all Perkins loan cancellation benefits can be found in the Federal Student Aid Handbook.

What is the definition of a teacher for this program?

Eligible teaching categories

In addition to meeting the definition of a full-time teacher as defined by the program, you must also be teaching in one of the following categories:

Cancellation Rates for Teachers

  • first and second years; 15% of the original principal loan amount, plus the interest that accrued during the year.
  • third and fourth years; 20% of the original principal loan amount, plus the interest that accrued during the year.
  • fifth year; 30% of the original principal loan amount, plus any interest that accrued during the year.

How to Apply for a Teacher Cancellation

  1. Download the request for partial cancellation of loan for teaching services form(PDF).
  2. Completed forms should be sent to the UW–Madison Bursar’s Student Loan Office via:
  • Email – stuloans@bussvc.wisc.edu
  • Fax # – (608) 265-3201
  • Mailing address:
    • UW–Madison Bursar’s Office

      Attn: Student Loan Office

      333 East Campus Mall #10501

      Madison, WI  53715-1383

Contact

Email: stuloans@bussvc.wisc.edu

Phone: (608) 262-1791

Fax the Bursar's Office

Fax: (608) 265-3201

Monday – Friday
Virtual Services available 8 AM – 4 PM

333 East Campus Mall #10501
Madison, WI 53715-1383