High Risk Children
For cancellation for work with high-risk children you must:
- be a full-time employee
- work only with high-risk children
- work only with children from low-income communities
- work for an eligible public or nonprofit child or family service agency.
High-Risk Children
High-risk children are individuals under the age of 21 who are:
- either at risk of abuse or neglect,
- or have been abused or neglected,
- or have serious emotional, mental, or behavioral disturbances,
- or reside in placements outside their homes,
- or are involved in the juvenile justice system
Family Agency
The borrower may also provide services to adult members of the families of the children for whom services are provided. The services provided to adults must be secondary to the services provided to the high-risk children.
NOTE: An elementary or secondary school system or a hospital is not an eligible employing agency.
Low Income Community
A low income community is defined as a community in which there is a high concentration of children eligible to be counted under Title I of the Elementary and Secondary Education Act of 1965, as amended.
Rate of Cancellation
Any interest that may have accrued during the year of eligible employment will be canceled. In addition, the following percentages of the original principal loan amount will be canceled.
| Years of Cancellation | Rate of Cancellation |
|---|---|
| First year | 15% |
| Second year | 15% |
| Third year | 20% |
| Fourth year | 20% |
| Fifth year | 30% |
Forms
- Cancellation Form (pdf File)
Return to Cancellation Page