NEW MEXICO (KRQE) – New Mexico Teacher Loan Repayment Program now accepting applications until August 1 at 5 p.m. All New Mexico licensed teachers working in needy schools and fields are encouraged to apply for the program, which helps teachers repay federal student loans related to teacher education.
Through this program, eligible teachers can receive up to $6,000 per year for two years to repay principal and interest on federal student loans. According to a statement sent by the New Mexico Department of Higher Education, more than 600 teachers have been supported by the program. The state also approved an additional $3 million increase for the program this year so that all eligible teachers can benefit.
Eligible teachers must be U.S. citizens, residents of New Mexico for 12 consecutive months or more, hold a New Mexico teacher’s license, and have taught at least three years in New Mexico. According to the statement, priority is given to teachers in areas of high need such as bilingual education, special education, early childhood education, STEM, technical education and low performing schools. or economically disadvantaged.