If you complete qualifying service as a full-time teacher or staff member in the educational part of a preschool program carried out under the Head Start Act, you will be eligible to have up to 100 percent of your loan canceled. For each year of eligible employment, your loan will be canceled at a rate of 15 percent of the loan principal, plus any interest that may have accrued during the year.
A year of employment consists of a full academic year or its equivalent. The equivalent of an academic year is completed upon the anniversary date of your employment. Since this period will encompass portions of two regular academic years, a postponement form must be submitted for each year.