Cancellations

NOTICE: The 1998 reauthorization of regulations governing partial cancellation of Perkins Student Loans has amended some of the cancellation provisions effective October 7, 1998. Under certain conditions, a borrower may have all or part of his or her loan cancelled. Cancellation means that a portion of the entire principal borrowed plus accrued interest will never have to be repaid by the borrower.

Important note: Before consideration may be given for any partial cancellation request (or a request for payment postponement/deferment in anticipation of a future partial cancellation), the borrower's account must be current to the beginning date of qualifying employment. For borrowers of older loans requesting the new October 1998 reauthorization cancellations, current to October 1, 1998. Please contact the Graceland University Loan Office if you need additional information.