SANTA FE – Starting June 1, New Mexico teachers can apply for up to $6,000 a year in student loan assistance through the state’s Teacher Loan Repayment Program.
The program received a record number of applications last year, helping more than 800 New Mexico teachers, and this year Gov. Michelle Lujan Grisham backed a $5 million funding increase to support even more educators.
“The state’s Teacher Loan Repayment Program works to alleviate the financial burden of student loan debt, allowing teachers to focus on what is most important – educating our children,” said Higher Education Secretary Stephanie M. Rodriguez. “New Mexico is committed to helping educators by providing them with the support and respect they deserve as they teach the next generation of New Mexicans.”
“The Teacher Loan Repayment Program is a vital investment in our educators and their future. By alleviating the burden of student loan debt, we are showing our teachers that we value their dedication to New Mexico's students and communities,” said Public Education Secretary Mariana D. Padilla. “Since 2020, the program has provided debt relief to over 2,500 individuals, reflecting the state's commitment to attracting and retaining quality educators.”
Gov. Lujan Grisham also supported and increased funding for the Teacher Preparation Affordability Scholarship to support students entering teacher preparation programs, and these students can also benefit from the New Mexico Opportunity and Lottery scholarships to pursue undergraduate degrees tuition-free.
Awards for the Teacher Loan Repayment Program can be renewed for additional two-year cycles if the recipient continues to fulfill their teaching commitment to the state. 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 (STEM)
- Career technical education (CTE)
- Teaching in a low-performing school serving economically disadvantaged populations
Program applications are due by 5 p.m. on Monday, August 1 and can be completed electronically via the New Mexico Higher Education Department’s website at hed.nm.gov. Teachers who are interested can also contact the agency via email at Fin.Aid@hed.nm.gov or through a toll-free helpline at 1-800-279-9777.