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New Mexico Higher Education Department



The New Mexico Higher Education Department site focuses on their own state college and student loan information, rather than on the federal programs.

The state spends $60 million per year on financial aid for colleges on programs like:

  • The Legislative Lottery Scholarship (8 semesters of tuition paid for at a public college in New Mexico)
or, for those who do not qualify for the lottery scholarship:
  • The Competitive Scholarship
  • The Education Trust Board Pathways Scholarship
  • The Legislative Endowment Scholarship
  • The New Mexico Scholars
  • NM Veterans Education & Training Programs
  • The Vietnam Veterans Scholarship
  • The Richard T. Knowles Legislative Scholarship
  • The Daniels Fund Scholarship Program


New Mexico also has a number of educational loan forgiveness programs (forgiven at the rate of 1 year of service for 1 year of loans):
  • Teacher Loan-For-Service- teacher forgiveness loans of $4,000 per year
  • Nursing Loan-for-Service- nursing student loan forgiveness- $12,000 per year
  • Medical Loan-for-Service- medical school loan forgiveness- $25,000 per year
  • Allied Health Loan-for Service- health fields forgiveness loans- $12,000 per year
  • Minority Doctoral Loan-for-Service- graduate school forgiveness loans- $15,000 per year
  • Nurse Educator Loan-for-Service- nursing faculty forgiveness loans, $5,000 per year
  • WICHE Loan-for-Service- allows students in graduate or professional programs to receive residential or reduced tuition rates in out of state schools- must agree to return to New Mexico to work- programs available for:
    • Dentistry
    • Graduate Library Studies
    • Optometry
    • Veterinary Medicine
    • Osteopathic Medicine

Make sure you apply for all additional New Mexico college grants and scholarships that you are eligible for.

School Loans...Repayment

The New Mexico Higher Education Department has two programs that will repay school loans:

  1. The Health Professional Loan Repayment Program
    • for repayment of outstanding student loans of practicing health professionals
    • must make a two year service commitment to practice full-time in a designated medical shortage area in New Mexico
    • eligible professionals are: allopathic physician, osteopathic physician and physician assistants, advanced practice nurses, allied health care providers, podiatrists, optometrists, and dentists
    • award is $25,000 per year or $35,000 per year for those working in a federal Health Professional Shortage Area (HPSA)

  2. The Public Service Law Loan Repayment Assistance Program
    • provides legal educational loan repayment assistance to individuals providing public service in state or local government or the non-profit sector in New Mexico to low income or underserved residents.
    • requires a 3 year commitment to work in Public Service Law
    • eligible employers are: organizations that provide for the care and maintenance of indigent persons in New Mexico through civil legal services; the Public Defender’s Department; or a New Mexico district attorney's office
    • award is $7,200 per year

Federal Loans for College

The Federal Family Education Loan Program (FFELP) guarantee agency for New Mexico was the New Mexico Student Loan Guarantee Corporation.

But now all federal student loans are distributed through Direct student loans. There are no longer any added benefits for New Mexico students taking out these loans. If you are still in school and have FFELP loans, you may consolidate them into Direct loans while you are in school (until July 1, 2011).


Here's some useful pages for you to see:

Federal Direct PLUS loans

Private loan lenders

Wells Fargo education financial services


college loan consultant plan for paying off student loans in New Mexico The New Mexico Higher Education Department provides a great deal of support to students that intend to go to a college within the state.

New Mexico Higher Education Department
1068 Cerrillos Road
Santa Fe, NM 87505-1650
Phone: (505) 476-6500
Toll-Free: (800) 279-9777
Fax: (505) 476-6511
TTY: (800) 659-8331

A Pell grant is a college funding lifesaver.


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