Request for Cancellation Application
Once you begin to perform a service that is eligible for cancellation, a Request for Cancellation is necessary.
The application provides Student Financial Services the necessary information to make a preliminary decision on whether or not you may be eligible for a cancellation.
- Print the Request for Cancellation Application
Complete the application
- Provide the necessary personal information to process your deferment request - Part I
- Request your cancellation by checking the appropriate box - Part II
- Provide the necessary employment information. Under "Description of Duties", please list a detailed description of your duties - Part III
Mail or fax the documentation to:
Student Financial Services
108 Shields Building
University Park, PA 16802
When your documentation is received, our office will send you a notification of eligibility. If you are eligible, you will be notified of your deferment coverage and a cancellation form(s) will be enclosed. Please submit your cancellation form(s) approximately one month prior to the expiration of your deferment.
Once your completed and certified cancellation form(s) is returned to our office, it will be reviewed for final approval. Once approved and your outstanding balance has been reduced through cancellation, you will receive a notification letter and a new cancellation form(s) from our office. Your loan(s) will be automatically deferred for the following year, pending the completion and submission of the new cancellation form(s).
Termination of Employment
If your employment is terminated for any reason, you will receive a grace period of six months from the date of termination. Payments are not required and interest will not accrue during the grace period. Upon termination, please contact our office immediately for further information.
If your loan is not eligible for cancellation and you are unable to meet your scheduled payments, you may apply for an economic hardship deferment or forbearance.