New Mexico Health Loan-for-Service 2025
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The purpose of the New Mexico Health Professions Student Loan-for-Service Program is to increase the number of professionals in areas of the state that have experienced shortages by making educational loans to students seeking degrees in the health field. As a condition of each loan, the student shall declare his/her intent to practice in a chosen health field in a designated shortage area in New Mexico.
For every year of service, a portion of the student’s loan will be forgiven. If the entire service agreement is fulfilled 100% of the loan is eligible for forgiveness. Penalties may be assessed if the service agreement is not satisfied.
General Eligibility Requirements:
- New Mexico resident
- Enrolled at least half-time
- Enrolled at a public college or institution in New Mexico and accepted into a health profession program leading to a degree or certification
- Demonstrate financial need
Application Process:
- Digital Video/Voice Submission
- Letter of Acceptance
- Most Current Unofficial Academic Transcript
- Copy of Driver’s License
Award Amounts: Financial Aid Coordinators make award amount recommendations based on the student’s financial need for the academic year; however, the amount of the award may not exceed $16,000 for the Allied and Nursing Loan-For-Service Program and $25,000 for Medical Loan-For-Service student(s) per academic year. The final award amount is determined by the New Mexico Higher Education Department based on available funding and the total number of eligible applicants. Funds are sent in two disbursements directly to the higher education institution at which the eligible student is enrolled.