TEXAS A&M UNIVERSITY
DIVISION OF FINANCE - STUDENT BUSINESS SERVICES
With the exception of cancellations for Head Start, Military, and volunteer services, the cancellation rate per completed academic year or its equivalent of full-time teaching or for each year of otherwise qualifying full-time service is:
Other Services qualifying for Loan Cancellation
Head Start Service
Head Start Service is cancelled at the rate of 15% of the original principal loan amount - plus the interest that accrued during the year - for each complete school.
Military Service
A borrower is entitled to cancellation of up to 50 percent of a loan for service in the U.S. Armed Forces in an area of hostilities or an area of imminent danger that qualifies for special pay under Section 310 of Title 37 of the U.S. Code. The cancellation rate for every complete year of qualifying service is 12.5% of the original principal loan amount plus any interest that accrued during the year.
Volunteer Service
A borrower is entitled to cancellation of up to 70 percent of a loan for services as a Peace Corps volunteer under the Domestic Volunteer Service Act. Cancellation for the service is in the following increments:
Nurse or Medical Technician Service
A borrower providing qualified nursing and medical technician service qualifies for loan cancellation.
Child or Family Services
To receive loan cancellation for being employed at a child or family services agency, a borrower must be providing services only to high-risk children who are from low-income communities. The borrower may also be providing services to adults, but these adults must be members of the families of the children for who the services are provided. The services provided to adults must be secondary to the services provided to the high-risk children.
Professional Provider Service
For a borrower to be considered as a full-time professional provider of early intervention services, the borrower must be employed in a public or nonprofit program under public supervision. Under the Individuals with Disabilities Education Act, early intervention services include: family training, counseling, and home visits; special instruction; speech-language pathology and audiology services; occupational therapy; physical therapy; psychological services; service coordination services; medical services only for diagnostic and evaluation purposes; early identification, screening and assessment services; health services necessary to enable the infant or toddler to benefit from the other early intervention services; social work services; vision services; assistive technology devices and services; and transportation and related costs necessary to enable infants, toddlers, and their families to receive other services identified in Section 632(4) of the act.
Law Enforcement or Corrections Officer Service
A borrower may qualify for loan cancellation if he/she is a full-time employee of an eligible agency (publicly funded and its activities pertain to crime prevention, control or reduction or to the enforcement of criminal law) and a sworn officer or person whose principal responsibilities are unique to the criminal justice system and are essential in the performance of the agency's primary missions. Individuals whose official responsibilities are supportive (e.g. typing, filing, accounting, purchasing) and public defenders do not qualify for cancellations benefits.