President & CEO
New Mexico Student Loans (NMSL) is a trademarked brand name of the New Mexico Educational Assistance Foundation (NMEAF) and the New Mexico Student Loan Guarantee Corporation (NMSLGC). NMEAF and NMSLGC are independent, private non-profit 501(c) (3) corporations established in 1981 by New Mexico state statute to:
"...promote the public welfare and prosperity of the people of New Mexico by stimulating the availability of financial assistance for post-secondary education so as to give greater higher education opportunity." [New Mexico Code - Article 21A, Educational Assistance Act.]
NMSL has fulfilled this public service mission by performing three activities: administering New Mexico's participation in the U.S. Department of Education's Federal Family Education Loan Program; originating private education loans to qualified students; and sponsoring community outreach programs promoting financial education and post-secondary education preparation.
NMSL receives no state tax appropriations or other state support, and funds its operations and programs solely on revenue created by its lending and servicing activities. All revenue above operating expenses is used to promote NMSL's public service mission promoting the welfare and prosperity of the citizens of New Mexico. Thus, NMSL's strategic plan is to earn revenue by offering a variety of financial products and services focused on post-secondary education, financial education, and other related areas. NMSL then uses that revenue to fund a robust and sustainable public service educational mission assisting New Mexico's students and their families to plan, prepare, and pay for post-secondary education.
There is a critical need in New Mexico for effective, sustainable financial education programs. The future welfare and prosperity of New Mexico depends on the level of education attained by its citizens; financial education is the key to motivating New Mexico's rising generations to seek quality post-secondary training and education. Such literacy is also the key to assisting New Mexico's adults improve and enhance their lives through additional training and life-long education.