State of New Mexico Nursing Loan-For-Service

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, the New Mexico Department of Higher Education provides loans to help pay for educational costs.

The purpose of the Nursing Loan-for-Service is to increase the number of nurses in areas of the state which have experienced shortages by making educational loans to students entering nursing programs.

As a condition of each loan, the student shall declare his/her intent to practice as a health professional in a designated shortage area.                     

For every year of service, a portion of the 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.  

Learn more from the New Mexico Department of Higher Education.