Perkins Loan Options


Under certain circumstances, you may be able to receive a deferment that allows a borrower to temporarily postpone or reduce your Perkins Loan payment. Postponing or reducing your payments may help in avoiding default.

In order to qualify for a deferment, you must meet specific criteria to become eligible for the deferment type. To apply for a deferment, please complete the appropriate form in detail and provide any required verifications listed in the deferment form.


If you cannot make your scheduled loan payments and do not qualify for a deferment of your Perkins loan, your loan servicer may be able to provide a forbearance. With a forbearance, you may be able to postpone payments for up to 12 months with interest continuing to accrue. The accrued interest may be paid back monthly or in one payment at the end of the forbearance period.


Perkins Loan borrowers may be eligible for all or part of his/her loan to be cancelled, including interest. You must be employed 12 consecutive months in a qualifying profession to be eligible for a cancellation.

Access all Deferment, Forbearance and Cancellation Forms:

Loan Rehabilitation

Perkins Loan borrowers have the ability to rehabilitate a defaulted Federal Perkins loan by making 9 consecutive, on-time payments. Upon completion of the rehabilitation, a borrower will return to a current, in good standing status with any negative remarks removed from their credit history. Please note, a borrower may only successfully rehabilitate a Perkins loan one time during the loan repayment. If a borrower misses a payment during the rehabilitation, the 9 month period must be restarted.


The Department of Education offers borrowers the option of consolidating their federal loans through the William D. Ford Federal Direct Loan Program.

If you are making student loan payments to more than one lender, loan consolidation could simplify your loan repayment. By combining several student loans into one, you could reduce your monthly loan payment to just one lender. Depending on the size of your debt, your repayment period may be extended, resulting in a more affordable monthly payment.

In general, most borrowers do not consolidate their loans until their grace period ends. This allows borrowers the full benefit of their initial grace period. Please remember that you must continue to make payments until your consolidation loan is funded.

To apply for consolidation: