View Full Version : Perkins Loan forgivness for Military combat vets?

02-08-16, 05:11 PM
Requires 1 year of service in a Combat zone in which they receive imminent danger pay...

Sooooo... even though the Marine Corps doesn't is on a 6 month deployment cycle and said Marine has only 9 months, apparently they do not qualify for forgiveness??

Anyone else have had this problem trying to get forgiveness on this loan?

02-08-16, 05:23 PM
"Borrower can receive cancellation for each 12-month period of service as a member of the US Army, Navy, Air Force, Marines, or Coast Guard and serving in an area of hostilities that qualifies for special pay under USC 37 Sec. 310. For any year of service beginning on or after August 14, 2008, 100% cancellation over 5 years on NDSL/Perkins loans. For any year of service beginning prior to August 14, 2008, 50% maximum cancellation over four years (12.5% per year) on NDSL/Perkins loans."

This is what's written on my lenders page as requirements.