University of Wisconsin-Superior
Old Main 208
Belknap and Catlin
P.O. Box 2000
Superior, WI 54880
7:45am - 4:15pm M-F
Forms for Deferments or Cancellations
http://www.ecsi.net/bwr/forms/index.html go to ECSI Forms
Under certain conditions, a borrower may have his/her Perkins Loan deferred.
Student: Deferment can be granted for one semester at a time while the borrower is enrolled and in attendance as a regular student in at least a half time course of study at an eligible institution.
Rehabilitation training: Deferment can be granted to any borrower that is receiving, or scheduled to receive, services under a program designed to rehabilitate disabled individuals.
Graduate fellowship: Deferment can be granted to any borrower that is enrolled and in attendance as a regular student in a course of study that is part of a graduate fellowship program or is engaged in graduate or post-graduate fellowship-supported study (such as a Fulbright grant) outside the United States.
Inability to secure full-time employment: Deferment can be granted one year at a time, for a maximum of three years, during time periods in which the borrower is seeking and unable to find full-time employment.
Economic hardship: Deferment can be granted one year at a time, for a maximum of three years, during time periods in which the borrower is suffering an economic hardship. In order to qualify for this deferment, the borrower must provide documentation that the borrower falls into one of the following categories:
Forbearance: Forbearance means the temporary cessation of payments, allowing an extension of time for making payments, or temporarily accepting smaller payments than previously were scheduled. Forbearance can be granted one year at a time, for a maximum of three years if: 1) the amount of the payments the borrower is obligated to make on title IV loans each month is collectively equal to or greater than 20% of the borrower's total monthly gross income; 2) the institution determines that the borrower should qualify for the forbearance due to poor health or for other acceptable reasons, or 3) The Secretary of Education authorizes a period of forbearance due to a national military mobilization or other national emergency. Note that interest continues to accrue during periods of forbearance.
Under certain conditions, a borrower may have all or part of his or her Perkins loan canceled. Cancellation means that a portion or all of the principal borrowed plus accrued interest will never have to be repaid by the borrower.
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