Full-time Teacher in a Shortage Area "Field of Expertise"
To be considered for this type of partial cancellation, the borrower must meet all criteria listed under General Information plus be teaching in the fields of mathematics, science, foreign languages, or bilingual education or in any other "field of experise" that is determined by a state education agency to have a shortage of qualified teachers in that state. The majority of the classes being taught must be in the borrower's field of expertise.
| 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 |