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Frequently asked questions - Page five

Loan Cancellation

What is loan cancellation?
What services can I perform to qualify for partial or total cancellation?
How do I find out if my loan qualifies for cancellation benefits?
When should I file for cancellation?
How can I get instructions on how to fill out the cancellation form?
If I am eligible for cancellation benefits for one of the services listed, what percentage of my loan will be cancelled?
How can I obtain a cancellation form?

What is a cancellation?

Loan cancellation is the reduction of loan principal in exchange for providing service in an eligible field. You are not responsible for repaying the portion of the loan that is cancelled or forgiven.

What services can I perform to qualify for partial or total cancellation?

Please refer to the Terms and Conditions of your promissory note. There is also additional information for certain loan types on the primary page of the Information Center.

How do I find out if my loan qualifies for cancellation benefits?
If you think that you qualify for total cancellation or partial cancellation of your loan, you may download a cancellation form from our Web site or call our office at (800) 334-8609 to request a form. If you usually mail payments to your school, click here to download a form. If you usually send payments directly to Campus Partners, use this form.

When should I file for cancellation?
Applying for a cancellation is a two-step process because a loan cancellation cannot be granted before you have completed your specified length of service.

  1. First, apply for a deferment while you are performing your qualifying service. You can download a loan deferment form here if you usually mail payments to your school. If you usually send payments directly to Campus Partners, complete this form.
  2. Once your service is performed, you can apply for the cancellation.

How can I get instructions on how to fill out the cancellation form?
The Campus Partners Web site provides help for borrowers filling out cancellation forms. Just go to "Cancellation Form Instructions." If you do not have access to the Internet, you can get instructions by calling Campus Partners at (800) 334-8609 and speaking to a representative.

If I am eligible for cancellation benefits, what percentage of my loan will be cancelled?
The total percentage cancelled on a loan depends on the type and length of service that is being provided. To get the total percentage amount and the percentage rate, borrowers should refer to their promissory note or call Campus Partners at (800) 334-8609.

How can I obtain a cancellation form?
You can download from our forms page or call us at (800) 334-8609. If you usually mail payments to your school, click here to download a form. If you usually send payments to Campus Partners, use this form.

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