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.
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
- Download the request for partial cancellation of loan for teaching services form(PDF).
- 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
- UW-Madison Bursar’s Office
Monday – Friday
Virtual Services available 8 AM – 4 PM
333 East Campus Mall #10501
Madison, WI 53715-1383