UNM Medical and Law School
Borrower Benefits

New Mexico Student Loans offers special borrower benefits for UNM law and medical school students.

UNM Law School Students

Borrowers whose loans are sold or pledged as collateral to the Department of Education will qualify only for the following benefits:
       ●  0% default fee
       ●  0.25% interest rate reduction for electronic payment

However, if New Mexico Student Loans holds the loans impacted by this notice at the time any borrower benefits are earned, the following money-saving borrower benefits will apply to those loans:

• Stafford Loans have a 1% default fee and a 1% origination fee. NMSL pays the 1% default fee on behalf of its borrowers.
• Grad-PLUS Loans have a 3% origination fee and a 1% default fee. NMSL pays the 1% default fee on behalf of its borrowers.
  Repayment for each Grad-PLUS Loan begins 60 days after the last disbursement.

• For Stafford loans guaranteed after January 1, 2005, NMSL will reduce your outstanding principal balance by 4.5% after receiving 33 on-time monthly payments.

Print the certification form for Lawyers for New Mexico benefit.

UNM Medical School Students

Borrowers whose loans are sold or pledged as collateral to the Department of Education will qualify only for the following benefits:
       ●  0% default fee
       ●  0.25% interest rate reduction for electronic payment

However, if New Mexico Student Loans holds the loans impacted by this notice at the time any borrower benefits are earned, the following money-saving borrower benefits will apply to those loans:

UNM Medical School students can select from two student loan savings options:

MDs for New Mexico – Option 1:  Physicians practicing medicine in New Mexico

• Stafford Loans have a 1% default fee and a 1% origination fee. NMSL pays the 1% default fee on behalf of its borrowers.
• Grad-PLUS Loans have a 3% origination fee and a 1% default fee. NMSL pays the 1% default fee on behalf of its borrowers.
  
Repayment for each Grad-PLUS Loan begins 60 days after the last disbursement.
• Stafford & Grad-PLUS Loans:  Receive 0% interest rate on your NMSL Stafford (guaranteed after 5/1/2000) and Grad-PLUS loans when you work full-time as a physician in New Mexico. Simply choose the standard loan repayment option and file the NMSL certification form annually.  Once New Mexico Student Loans approves your certification form, the interest rate on your loans will be adjusted to 0% for the year.

Print the MDs for New Mexico certification form.

You must submit the certification form each year in order to receive the reduced interest benefit.

• Stafford Loans have a 1% default fee and a 1% origination fee. NMSL pays the 1% default fee on behalf of its borrowers.
• Grad-PLUS Loans have a 3% origination fee and a 1% default fee. NMSL pays the 1% default fee on behalf of its borrowers.
• Receive a 4.5% interest rate reduction on the outstanding loan principal on
  
Stafford loans guaranteed after January 1, 2005, after receiving 33 on-time monthly payments.

Print the MDs for New Mexico working out of state certification form

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.

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