Forms

All of the forms and publications listed to the left are available in hard copy in the business office. However, it may occasionally be more convenient for you to download a copy from this Web page if you have lost or misplaced something or if you are far away from KCAI. If you cannot download or print any of these forms, please contact the Perkins Loan specialist in the business office and we will be happy to mail the form(s) to you.

Additionally, you may download pertinent forms from the guest services section of the ACS Web site.

DEFERMENT FORMS: (You may click the link below and print the form)

• School deferment
• Economic hardship deferment
• Unemployment deferment

FORBEARANCE FORMS :

Forbearance forms are used to request a temporary suspension of payment while continuing to accrue interest on the loan.

CANCELLATION FORMS:

A borrower may be eligible for a deferment if they are engaged in certain types of service that qualify for cancellation of the loan

MILITARY SERVICE

A borrower may cancel a portion of their loan for service in the U.S. Armed Forces in an area of hostilities or in an area of imminent danger that qualifies for special pay under Section 310 of Title 37 of the U.S. Code.

Eligibility - NDSL/Perkins loans made on or after July 1, 1972
Maximum Amount Canceled - Up to 50% of loan at a rate of 12 1/2% of original principal loan amount and accrued interest for each complete year of qualifying service

TEACHER CANCELLATION - Loans on or after 7/1/72:

A borrower may be eligible to cancel all or a portion of their loan for teaching services as follows:

• A full-time teacher in a public or nonprofit elementary or secondary school serving students from low-income families.
• A full-time teacher of handicapped students in a public or nonprofit elementary or secondary school. The majority of children being taught must handicapped.

The cancellation rate is as follows:

• 15% of the original principal loan amount plus accrued interest for the first and second years of service.
• 20% of the original principal loan amount plus accrued interest for the third and fourth years of service.
• 30% of the original principal loan amount plus accrued interest for the fifth year of service.

To receive a teacher cancellation, the borrower must be teaching full-time in a public or other nonprofit elementary or secondary school system. An eligible teacher is defined as:

• Direct classroom teaching
• Classroom type teaching in a non-classroom setting
• Educational services directly related to classroom teaching (school librarians and school guidance counselors are eligible under this category)

Eligibility - NDSL/ Perkins loans made on or after July 1, 1972
Maximum Amount Canceled - Up to 100%

HEAD START:

A borrower may qualify for a cancellation for service as a full-time staff member in the educational part of a preschool program carried out under the Head Start Act.

Eligibility - NDSL/Perkins loans made on or after July 1, 1972
Maximum Amount Canceled - Up to 100% at a rate of 15% of the original principal loan amount plus accrued interest for each year of service

PERMANENT AND TOTAL DISABILITY:

Should the borrower become unable to engage in any substantially gainful activity because of a medically determined impairment, the unpaid balance of the loan and accrued interest may be canceled. To claim this entitlement, the borrower must submit to the lending institution, a formal request for loan cancellation and a physician's statement that certifies the date of onset, nature and extent of the disability.

DEATH:

Principal and interest installments may be canceled in the event of death. To claim this cancellation, the executor of the estate must submit a death certificate or evidence of death to the lending institution.