New Mexico Teacher Loan Repayment Program
The New Mexico Teacher Loan Repayment Program is designed to increase the number of teachers in designated high-need teacher positions in public schools through an educational loan repayment program. The program provides for repayment of the principal and reasonable interest accrued on loans obtained from the federal government for teacher education purposes. Read on to see eligibility requirements, award amounts, and application process for the New Mexico Teacher Loan Repayment Program.
Eligibility?
In order to be eligible for the New Mexico Teacher Loan Repayment Program, you will need to meet all of the following:
- High-need positions are considered to be filled by teachers that:
- Have an endorsement and currently teach bilingual education;
- Have an endorsement and currently teach early childhood education or special education;
- Have an endorsement and currently teach science, technology, engineering, mathematics or career technical education courses; or
- Teach in a low performing school which serves a high percentage of economically disadvantaged students (40% or more of the students receive free & reduced lunch).
In order to be eligible for this program you must meet the following general requirements:
- Bona fide citizen of the United States;
- Bona fide New Mexico resident (12 consecutive months);
- Licensed New Mexico teacher;
- Have taught at least three years in New Mexico;
- Preference is given to graduates of New Mexico public post-secondary institutions;
- Teaching in one of the high-need teacher positions listed above (minority teachers filling a high need position are given preference).
For a further breakdown, head over to the following program page.
What is the award amount?
Through the New Mexico Teacher Loan Repayment Program, applicant award amounts vary. Awards are dependent upon specific public school’s need for the designated high-need teacher position, the teacher’s total education indebtedness and available balances in the TLRP fund. Recipients are eligible for renewal upon completion of a two-school-year obligation period. Recipients will be required to sign a contract committing to serve at an eligible employment site for a period of two (2) school years. Payments are made annually to the loan servicer directly upon verification of employment.
Application process?
Below find information regarding how to apply for the New Mexico Teacher Loan Repayment Program:
When to Apply:
The Teacher Loan Repayment Program new and renewal applications open every year on April 15th and close on June 1st at 5:00PM.
Where to Apply:
The Application is located on the New Mexico Higher Education Department website. (below) starting April 15th and will be removed from the page on the closing date of June 1st.
How to Apply:
The application must be completed in full and all necessary documents attached. The application and all attachments must be received by 5:00 2 PM on June 3, 2019. APPLICATION PERIOD EXTENDED TO 5:00 PM JUNE 28TH. Applications received after the deadline will not be reviewed. Applications postmarked June 3, 2019 (EXTENDED TO JUNE 28TH) but received by NMHED after the June 3rd (EXTENDED TO JUNE 28TH) deadline will NOT be considered. The New Mexico Higher Education Department must receive the application by the deadline date indicated. Faxed applications will NOT be accepted.
Mail your application to the following address:
New Mexico Higher Education Department
Financial Aid Division
2044 Galisteo Street, Suite 4
Santa Fe, NM 87505-2100
Questions:
Please contact the New Mexico Higher Education Department, Financial Aid Division at
1-800-279-9777 or via email at [email protected].
For a full program breakdown or any additional program questions, please go to the official program page.
Questions?
If you still have questions or would like to know more information please reach out to us here or you can go back to the Student Loan Repayment Assistance Programs page.