Effective Oct. 7, 1998, all borrowers of Perkins loans are entitled to have those loans discharged if they served in the U.S. armed forces.
This student loan cancellation privilege applies to Perkins loan recipients regardless of when the loan was made or what the terms on the original promissory note are.
Military personnel qualify for loan cancellations in an amount up to 50 percent of their Perkins loans if they serve in areas of hostility or regions of imminent danger.
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