ALBUQUERQUE, N.M. (KRQE) – New Mexico’s Teacher Loan Repayment Program is now accepting applications until Aug. 1. The program allows New Mexico licensed teachers with outstanding student loans to apply for debt forgiveness.
Teachers working in high-need fields and schools statewide may be eligible for up to $6,000 per year for two years toward principal debt and interest on federal student loans related to teacher education.
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Eligible teachers must be U.S. citizens, New Mexico residents for 12 or more consecutive months, hold a New Mexico teaching license, and have taught at least three years in New Mexico. Priority is given to teachers in a high-need position, including those with endorsements and actively teaching in the following areas:
Bilingual education
Early childhood education
Special education
Science, technology, engineering, or math (STEM)
Career technical education (CTE).
Teaching in a low-performing school serving economically disadvantaged populations (40% or more of students receiving free and reduced lunch)
Preference is also given to teachers who graduated from a New Mexico college or university and those from underrepresented backgrounds.
This year, the state approved $5 million to support the program. The award can be renewed for additional two-year cycles if the recipient continues to fulfill the teaching commitment.
Program applications are due by 5 p.m. on Thursday, August 1, 2024, and can be completed electronically via the New Mexico Higher Education Department’s website at hed.nm.gov. Teachers who are interested in applying to the program can also contact the agency via email at Fin.Aid@hed.nm.gov or through the Financial Aid Hotline at 1-800-279-9777.
