Program Benefits

Stafford Loans

When you work full-time as a nurse (LPN or RN) in New Mexico, you may qualify for 0% interest when your NMSL Stafford Loans and/or PLUS Graduate Student Loans enter repayment.  You must select the standard repayment option and be certified each year to receive this benefit.  The minimum monthly loan payment is $50.

How to qualify

If you are a current student:

1. Complete a Free Application for Federal Student Aid (FAFSA).
2. Request a Stafford student loan through your Financial Aid Office.
3. Have your loans guaranteed and disbursed by NM Student Loans or a participating lender.

When your loan enters repayment:

4. Work full-time as a Registered or Licensed Practical Nurse in a public or private healthcare facility in New Mexico.
5. Choose the standard repayment option for your loans.
6. File the NMSL certification form annually.
7. Once New Mexico Student Loans approves your certification form, the interest rate on your NMSL Stafford and PLUS Graduate Student loans will be adjusted to 0% for the year.

Certain restrictions may apply. If you have questions, call New Mexico Student Loans customer service for details: 345-3371, ext.1472 (Albuquerque area) or 1-800-279-5063 (nationwide) or email stafford@nmstudentloans.org.

To calculate the potential savings on your Stafford or Consolidation loans, use a Nurses for New Mexico interactive loan calculator.

You can also print the Nurses for New Mexico Certification Form.  You must submit this completed form each year in order to receive the Nurses for New Mexico interest benefit.

Click here for NMSL’s Nurses for New Mexico brochure.

New Mexico Student Loans reserves the right to modify or discontinue programs at any time. Some restrictions may apply.