SANTA FE, N.M. — Applications will open June 1 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 will accept applications until Aug. 1. Last year, over 1,000 teachers applied in record numbers.

Any licensed New Mexico teacher, working in “high-need” fields and schools, are 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
• Taught at least three years in New Mexico

They will give priority to teachers with endorsements and those who are active in these areas they define as “high-need.”  

• Bilingual education  
• Early childhood education  
• Special education  
• STEM 
• Career technical education (CTE)  

They also identify a high-need school as any “low-performing school serving economically disadvantaged populations” – with the criteria being 40% or more of students receive free and reduced lunch. A teacher at a school like that will also get priority.

If you’re looking to apply, you must get your application in by 5 p.m. Thursday, Aug. 1. You can complete the application electronically here.

You can reach out to the agency at Fin.Aid@hed.nm.gov or through the Financial Aid Hotline at 1-800-279-9777.