Peace Corps or ACTION Programs

Applies only to Federal Perkins Loans.

This type of partial cancellation is for service as a Peace Corps volunteer or a volunteer under the Domestic Volunteer Service Act (ACTION programs). Service in volunteer programs other than Peace Corps or ACTION is not eligible for this type of partial cancellation.

For each year that a borrower receives partial cancellation for volunteer service in the Peace Corps or ACTION programs, he/she is considered to have also used one year of military/ACTION deferment.

**Eligibility and Rates**
Eligible Loans	Federal Perkins Student Loan
Maximum %	70% of original principal loan amount plus any interest that may have accrued during the year
Maximum Years	3 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