Teacher Loan-For-Service - Application will open May 15, 2014
|The purpose of the Teacher Loan-for-Service is to proactively address New Mexico’s teacher shortage by providing students with the financial resources to complete or enhance their post-secondary teacher preparation education.
Where do I provide service?
As a condition of each loan, the student shall declare his/her intent to practice as a teacher in the New Mexico public school system.
For every year of service, a portion of the loan will be forgiven. If the entire service agreement is fulfilled, 100% of the loan is eligible for forgiveness. Penalties may be assessed if the service agreement is not satisfied.
How much is the award?
- The award is based on the financial need of the student
- The award may not exceed $4,000 per year
- Award may be renewable for up to five years if application is submitted each year
What are the eligibility requirements?
- New Mexico residents
- Be accepted into Teaching program or an alternative licensure teacher preparation program at a public college or university
- Enroll at least half-time
- Undergraduate or graduate
- Demonstrate financial need
How do I apply?
||Complete the Free Application for Federal Student Aid (FAFSA)|
||Complete the Teacher Loan-for-Service Application:|
||Request school certification|
||Send complete application to New Mexico Higher Education Department|
If I am already on the program, do I need to reapply?
Yes. If you are currently receiving funding from the Teacher Loan-for-Service program, you will need to reapply by July 1, 2013.
When is the deadline?
Applications must be postmarked by July 1, 2014 Mail complete application to:
New Mexico Higher Education Department
Attn: Financial Aid Division
2048 Galisteo Street
Santa Fe, NM 87505-2100