Teachers can take a break from the state loan repayment scheme

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The deadline to apply is August 1

SANTA FE—Teachers with outstanding student loans can apply for debt forgiveness through the state’s Teacher Loan Repayment Program, which is now accepting applications through Aug. 1.

According to a press release from the New Mexico Higher Education Department.

Eligible teachers must be U.S. citizens, residents of New Mexico for 12 consecutive months or more, hold a New Mexico teaching license, and have taught at least three years in New Mexico. Priority is given to teachers with high needs, including those with endorsements and actively teaching in the following areas:

  • Bilingual education
  • early childhood education
  • special education
  • Science, Technology, Engineering or Mathematics (STEM)
  • Vocational Technical Training (CTE)
  • Teaching in a poorly performing school serving economically disadvantaged populations (40% or more of students receive a free and reduced price lunch)

The average amount of debt held by teachers participating in the program this year is over $48,000.

The scholarship may be renewed for additional two-year cycles if the recipient continues to fulfill their teaching commitment. Preference is also given to teachers who have graduated from a New Mexico college or university and teachers from underrepresented backgrounds. Teachers with the Federal Teacher Loan Forgiveness program can concurrently benefit from the New Mexico program.

Applications for the program must be submitted by 5 p.m. on Monday, August 1, and can be completed electronically through the New Mexico Department of Higher Education website at hed.state.nm.us. Interested teachers can also contact the agency by e-mail at Fin.Aid@state.nm.us or through a toll-free helpline at 1-800-279-9777.

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