The New Mexico Higher Education Department announced applications are open for a program that will forgive some student loans for New Mexico teachers. The state’s Teacher Loan Repayment Program is accepting applications until Aug. 1.
New Mexico licensed 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.
Last year, the program received a record number of applications for the second consecutive year, supporting over 1,000 New Mexico teachers. This year, Gov. Michelle Lujan Grisham approved $5 million to continue funding the program.
“The Teacher Loan Repayment Program is an essential tool for supporting our hardworking educators, who have chosen a career dedicated to supporting the students of New Mexico, and we encourage teachers to consider applying for this amazing opportunity,” said Higher Education Secretary Stephanie M. Rodriguez. “We know that recruiting and retaining teachers is vital to the intellectual and economic strength of our state, and we thank Gov. Lujan Grisham for her continued commitment to assisting educators.”
In 2024, Lujan Grisham approved $5 million for the Teacher Preparation Affordability Scholarship, which supports students pursuing degrees leading to teaching careers. Last year, the program was expanded to include licensed teachers pursuing master’s degrees. The legislative change now allows for any teacher who earned their degree before these programs were available, or who pursued advanced degrees funded by federal student loans, to benefit. The average amount of debt held by teachers participating in the program this year is $48,150.
The award can be renewed for an additional two-year cycle if the recipient continues to fulfill the teaching commitment. Preference is also given to teachers who graduated from a New Mexico college or university and those from underrepresented backgrounds. Teachers benefitting from the Federal Teacher Loan Forgiveness Program can simultaneously benefit from New Mexico’s program.
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.
· Career technical education.
· Teaching in a low-performing school serving economically disadvantaged populations (40% or more of students receiving free and reduced lunch).
Program applications are due by 5 p.m. on Aug. 1 and can be completed online at the New Mexico Higher Education Department’s website at hed.nm.gov. Teachers 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.