Photo Credit: Image by 정수 이 from Pixabay
DEMING – Applications are now open for a program providing $5 million in student loan forgiveness for teachers in New Mexico. The New Mexico Higher Education Department’s Teacher Loan Repayment Program is accepting applications until August 1. Last year, over 1,000 teachers applied in record numbers.
According to KOB TV, any licensed New Mexico teacher working in “high-need” fields and schools is eligible for up to $6,000 per year for two years toward the principal debt and interest on federal student loans related to their teacher education.
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 for at least three years in the state. Priority will be given to teachers with endorsements and those active in “high-need” areas, including bilingual education, early childhood education, special education, STEM, and career technical education (CTE).
High-need schools are defined as “low-performing schools serving economically disadvantaged populations” where 40% or more students receive free and reduced lunch. Teachers at such schools will also receive priority.
Interested applicants must submit their applications by 5 p.m. on Thursday, August 1. For more information, contact the agency at [email protected] or through the Financial Aid Hotline at 1-800-279-9777.