Applies only to Federal Perkins Loans or National Direct Student Loans made on or after July 23, 1992.
To be eligible for this type of partial cancellation, the borrower must be a full-time nurse or medical technician providing health care services.
Nurse: A licensed practical nurse, a registered nurse, or other individual who is licensed by the appropriate state agency to provide nursing services.
Medical Technician: A health professional providing specialized medical services who is certified, registered, or licensed by the appropriate state agency in the state in which he or she provides the services. The medical services provided by members of the Allied Health Professions*, as well as the medical services provided by physical therapists, speech and language pathologists, and audiologists are included in this definition.
|Eligible Loans||Federal Perkins Student Loan|
|Maximum %||100% of original principal loan amount plus any interest that may have accrued during the year|
|Maximum Years||5 years|
|1st & 2nd Year %||15% of original principal loan amount plus any interest that may have accrued during the year|
|3rd & 4th Year %||20% of original principal loan amount plus any interest that may have accrued during the year|
|5th Year %||30% of original principal loan amount plus any interest that may have accrued during the year|
The American Medical Association defines an allied health professional as one engaged in the following types of services:
- Anesthesiology Assistant
- Athletic Training
- Blood Bank Technology
- Cardiovascular Technologist
- Diagnostic Medical Sonography
- Electroneurodiagnostic Technology
- Emergency Medical Services
- Medical Assisting
- Medical Illustration
- Medical Laboratory Technology
- Health Information Management
- Nuclear Medicine Technology
- Occupational Therapy
- Ophthalmic Medical Technology
- Physical Assistant Practice
- Radiologic Technology
- Respiratory Therapy
- Surgical Technology
Addition medical services included in the partial cancellation for Medical Technician are:
- Physical Therapist
- Speech and Language Pathologist