Then you may be eligible for a deferment while you are working toward a cancellation on your Perkins Loan.
On a somewhat related note,  about Direct Loan Program. This is also related to the amount of taxes that I will have to pay?
Yes, you will need to pay taxed based on the amount forgiven.
Good to know. Another thing about Loan Types Eligible for Deferment. What if I no longer meet the deferment eligibility requirements?