NEW MEXICO (KRQE) – Teachers in New Mexico may qualify to get help repaying the principal and interest of federal education loans. The application window is open now and closes on August 1.
New Mexico offers loan repayment help in order to boost the number of teachers serving in “high-need” positions, according to the New Mexico Higher Education Department. The program is offered each year.
There are some eligibility requirements teachers need to meet in order to get financial help. In addition to other requirements, teachers need to have taught for at least three years and meet at least one of the following:
- Have an endorsement and currently teach bilingual education
- Have an endorsement and currently teach early childhood education or special education
- Have an endorsement and currently teach science, technology, engineering, mathematics, or career technical education courses
- Teaching in a low-performing school that serves a high percentage of economically disadvantaged students (40% or more of the students receive free and reduced lunch)
The program has additional criteria that can be found on the program’s website, which also has the link to apply. As for how much teachers can qualify for, it depends on the specific teacher and school.