Loan-for-Service Programs

  

The state of New Mexico has identified several professions in high demand, especially in our rural communities.  In an attempt to attract teachers, doctors, allied health professionals, nurses, and pharmacists to provide service in our neediest areas, we provide loans to help pay for educational costs.
 
The financial aid division administers the following loan-for-service programs:
 

Teacher Loan-for-Service    Nursing Loan-for-Service   Medical Loan-for-Service   Allied Health Loan-for Service   Minority Doctoral Loan-for-Service   Nurse Educator Loan-for-Service   WICHE Loan-for-Service

 

 

For Current Loan-for-Service Participants:
 

Eligibility Requirements for Forgiveness of Loans under the New Mexico Loan-for-Service Programs:

 
Step 1              Upon graduation you will have 6 months to secure employment in a designated shortage area. Check the appropriate Loan-for-Service site to
review the definition of a designated shortage area. We also recommend that students graduating from the health fields contact the New Mexico Health Resources for assistance with job placement.
 
Step 2              When you receive a job offer, complete the Request for Approval of Service Form and mail it to our office.
 
Step 3              If the request is approved, submit an Employment Verification Form by mail after each complete year of service.
 
Step 4              If you cannot provide service after the 6 month grace period, you may qualify for a deferment. Please fill out the Deferment Formand mail it to our office.
 
For those loan-for-service participants who do not provide service or who do not qualify for a deferment, the loan will become due according to the terms of your contract.  The Health Advisory Committee reserves the right to make exceptions on a case by case basis.
 
 

Shortage Areas for the Allied, Medical and Nursing LFS programs:

 
¨       Community Health Centers
¨       Federally Qualified Health Center
¨       Homeless Healthcare Centers
¨       Indian Health Service
¨       Migrant Health Centers
¨       Non-profit Centers/Clinics - 501 (c) 3 IRS verification must be provided
¨       Non-profit Hospital - 501 (c) 3 IRS verification must be provided (University of New Mexico Hospital does not qualify)
¨       Rural Health Clinics
 
 

Shortage Areas for Teacher LFS program:

¨       ALL New Mexico Public Schools