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But if you've combined your federal loans \u2014 direct or guaranteed, such as FFEL or Perkins \u2014 into a federal consolidation loan, that will be eligible for forgiveness if each of them disbursed its funds before July 1.
President Joe Biden announced in August that most federal student loan borrowers will be eligible for some forgiveness: up to $10,000 if they didn't receive a Pell Grant, which is a type of aid available to low-income undergraduate students, and up to $20,000 if they did.
Do you have to pay back federal Perkins loans even though the program ended? Yes. Borrowers with existing Perkins loans must still repay them.
But if you've combined your federal loans \u2014 direct or guaranteed, such as FFEL or Perkins \u2014 into a federal consolidation loan, that will be eligible for forgiveness if each of them disbursed its funds before July 1.
Loan Deferments/Forbearance You may qualify for a Deferment on your Perkins Loan that is not in default. During deferment, you can delay payment with no interest accruing during the deferment period. Deferments are typically granted for periods of economic hardship and while attending school at least half-time.

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Loan Deferments/Forbearance You may qualify for a Deferment on your Perkins Loan that is not in default. During deferment, you can delay payment with no interest accruing during the deferment period. Deferments are typically granted for periods of economic hardship and while attending school at least half-time.
Generally, most federal student loans qualify for forgiveness, including Pell Grants, government-owned FFEL loans, and Direct Loans such as Parent PLUS and Grad PLUS loans. Certain loans from the Federal Perkins Loan Program, such as ones held by colleges, may be excluded. All private student loans are also excluded.
Yes, it's possible to consolidate Perkins Loans into a Direct Consolidation Loan by themselves. Furthermore, all Perkins Loans consolidated into the Federal Direct Loan Program are included in the unsubsidized portion of the Direct Consolidation Loan.
Loans made through the Federal Perkins Loan Program, often called Perkins Loans, are low-interest federal student loans for undergraduate and graduate students with exceptional financial need. Important: Under federal law, the authority for schools to make new Perkins Loans ended on Sept.
Application for cancellation or discharge of a Perkins Loan must be made to the school that made the loan or to the school's Perkins Loan servicer. The school or its servicer can provide forms and instructions specific to your type of cancellation or discharge.

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