NEW MEXICO (KRQE) – Teachers could get up to $6,000 a year to help pay off outstanding student debt. The Teacher Loan Repayment Program from the New Mexico Higher Education Department is now accepting applications. To be eligible, teachers need to be U.S. citizens, a New Mexico resident for a year or more, hold a state teaching license and have taught for a least three years.
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“There are a variety state scholarship and financial aid programs that have become available to educators in recent years, but there are some who entered the profession prior to these opportunities being available,” Higher Education Secretary Stephanie Rodriguez said in a news release from the department. “With the Teacher Loan Repayment Program, these teachers can have their debt reduced or even eliminated, and enable more educators to pursue teaching in high-need areas across the state.”
The department says they also need to teach in a high-need position including those with endorsements and actively teaching in the following areas:
- Bilingual education
- Early childhood education
- Special education
- Science, technology, engineering, or math (STEM)
- Career technical education (CTE)
- Teaching in a low-performing school serving economically disadvantaged populations (40% or more of students receiving free and reduced lunch)
Recipients must agree to a two-year teaching commitment. The application closes on August 1 at 5 p.m. For more information or to fill out an application, visit hed.state.nm.us/financial-aid/loan-repayment-programs/teacher.