Loan Consolidation Application Helpful Hints

You may choose to complete your Consolidation Loan Application and Promissory Note online or through a paper process.

Continue to make payments on your loans, if you are required to do so, until you receive written notification that your loans have been consolidated and a bill statement for the Consolidation Loan is received. If you are having difficulty making payments on your loans, contact your loan holder/servicer to make payment arrangements. You may wish to ask about any "deferment" or "forbearance" options.

To consolidate your loans, New Mexico Student Loans recommends a minimum of $5,000 of student loan debt.

Your loans must be in their grace periods or in repayment.

Click here for detailed instructions on completing the Federal Consolidation Loan Application and Promissory Note.

If you have any questions about consolidating your loans, please contact us at 1-800-279-5063, 505-345-3371, extension 2106, or email perkins@nmstudentloans.org.

Paper Application Instructions

After you've reviewed the application packet, complete the application. Make sure to print legibly and provide accurate information. Otherwise, processing will be delayed.

Once completed, return the application and promissory note and verification certificates for each lender to New Mexico Student Loans. As soon as we receive this information, we'll begin to process your application. Generally, the consolidation process takes between 60-90 days. Consolidating your loans may take longer if your application is incomplete or if your loan holder/servicer does not reply in a timely manner to our requests for pay-off information.

Continue to make payments on your loans, if you are required to do so, until you receive written notification that your loans have been consolidated and a bill statement for the Consolidation Loan is received. If you are having difficulty making payments on your loans, contact your loan holder/servicer to make payment arrangements. You may wish to ask about any "deferment" or "forbearance" options.

The Federal Consolidation Loan Verification Certificate will be sent to your lender(s) to request the payoff for your loan. It is important that all required information is completed. This information may be obtained from your original promissory note or by contacting the current holder/servicer of your loan. Please include the loan verification certificate(s), along with the Consolidation Loan Application and Promissory note, and return to New Mexico Student Loans.

Loan Consolidation Application Online.