SANTA FE – The New Mexico Higher Education Department has increased the number of teachers receiving loan forgiveness through the state’s Teacher Loan Repayment Program.
The agency this year awarded funding to 537 new applicants and renewed funding for 357 applicants.
The program pays up to $6,000 per year for two years toward outstanding federal student loan debt and interest for licensed New Mexico educators working in high-need areas and schools within the state.
The program has grown enormously as the Lujan Grisham administration has prioritized debt relief for workers who have received their degrees in New Mexico.
In 2019, the department provided loan forgiveness to just 10 teachers in New Mexico.
Since 2020, the program has awarded debt relief to 2,533 working New Mexico teachers.
“Supporting New Mexico’s workforce is an essential component of our mission,” said Higher Education Secretary Stephanie M. Rodriguez. “Whether it’s building new and exciting career pathways for young New Mexicans, or providing debt relief to hardworking individuals who are already contributing to our communities with their work, the Higher Education Department is committed to expanding opportunities.”
“The Teacher Loan Repayment Program is a vital investment in our educators and their future,” said Public Education Secretary-Designate Mariana Padilla. “By alleviating the burden of student loan debt, we are showing our hardworking teachers that we value their dedication to New Mexico's students and communities. This program not only supports our educators but also strengthens the foundation of our schools and helps build a brighter future for our state."
“New Mexico's Teacher Loan Repayment Program continues to be a shining example of state government prioritizing educators and the continued need to attract, retain, and support these hard-working professionals in high-need teaching areas,” said President Whitney Holland of the American Federation of Teachers — New Mexico. “The year-over-year success of this program not only shows there is a continuing desire for this critical work, but sends a signal that New Mexico is a state where its educational professionals are valued and supported.”
"NEA-NM supports the Teacher Loan Repayment Program as a concrete and clear example of a way state government can help to attract educators and ease their financial burdens while at the same time decreasing the education workforce shortage,” said President Mary Parr-Sanchez of the National Education Association — New Mexico. “The increased participation year over year in the program demonstrates its success."
The program is funded by a $7.5 million appropriation for Fiscal Year 2025.
Recipient teachers work in high-need areas, including science, technology, engineering, and math (STEM), career technical education, bilingual education, early childhood education, special education, and those teaching in schools with free and reduced lunch programs. Recipients also agree to a two-year teaching commitment while benefiting from the program and can apply to renew the award every two years if they continue to meet eligibility criteria. Preference is also given to teachers who graduate from a New Mexico college or university and to teachers from historically underrepresented groups.
Educators and prospective candidates who want to learn more about the Teacher Loan Repayment Program are encouraged to visit this webpage.
Applications will reopen June 1, 2025.