How We Help New Mexico

Helping New Mexico’s Students & Families Since 1981

NMEAF’s loan programs and services, borrower benefit programs, and educational outreach programs are helping build a better future for New Mexicans

We believe that post-secondary education is vital to the future of New Mexico’s workforce and economy. We work to educate and create opportunities for all New Mexicans to attain a higher education degree or certificate. We create opportunities to finance higher education and save on student loan repayments. We work to ensure students are making the best financial decisions with their loan repayment programs and educate students on all of their financial options for funding and successfully repaying their student loans. We offer several programs designed to retain needed professionals for teachers, nurses and medical doctors. We collaborate with New Mexico’s public colleges and universities, non-profit organizations and high schools to promote higher education and help students complete their FAFSA and college applications.

Who We Are

We are a Non-Profit Organization

We Won’t Issue Bad Loans

We Only Offer Fixed Interest Rates

We’re Based in New Mexico

New Mexico Student Loans

Helping New Mexicans Finance and Save on Higher Education Costs

Our NMSL program administers student loans, provides low-cost private education loans, and refinancing federal student loans to undergraduate and graduate students attending school in New Mexico and New Mexican residents attending school outside New Mexico. We also provide several programs where students save money when they repay their loans, including alternative student loans, and incentivize needed professionals to stay and work in New Mexico.


Servicing Government-Guaranteed Student Loans

Our experienced communications center team helps hundreds of thousands of New Mexicans find the best solutions to repay their student loans. Our team counsels students on the best federal repayment programs for their individual situations and helps students avoid delinquency and default.

Borrower Benefits Programs

NMSL sponsors Borrower Benefit programs lowering interest rates and reducing the cost of repaying student loans. The total cost savings to New Mexico’s student loan borrowers since inception is approximately $60+ million.

New Mexico Student Loans Programs

Loan Reduction Programs

The alternative student loan reduction programs sponsored by NMEAF through our NMSL program reward students with interest rate and principal balance reductions.

  • Instant Savings – Borrowers receive a .50% interest rate reduction when their loans enter repayment.
  • Easy Pay – Borrowers who sign up to have their monthly payments automatically deducted from their bank accounts receive a .25% interest rate reduction.
  • Pot of Gold – Borrowers earn a 5.0% reduction in their principal balance when they make their initial 48 monthly payments on time.
New Mexico Professionals Programs

We recognized New Mexico’s shortage of vital professional services. To address this, NMSL sponsors programs rewarding students for working full-time in New Mexico as teachers, nurses, and medical doctors. These essential professionals who agree to remain in and work in New Mexico pay 0% interest on their Federal Stafford loans, and receive interest rate reductions of 1.25% on their Federal Consolidation loans held by NMSL.

  • Teachers for Tomorrow – This program is designed to make teacher education programs more accessible and help recruit and retain quality teachers for New Mexico. The benefits of this program apply to teachers who are employed by public or nonprofit elementary or secondary schools and provide direct classroom-type teaching or educational services directly related to classroom teaching.
  • Nurses for New Mexico – This program is designed to recruit and retain nurses in New Mexico. Licensed Practical Nurses and Registered Nurses qualify for this benefit when they are employed full-time in New Mexico at a public or private facility. Learn More
  • MDs for New Mexico – To address the medical professional shortage in New Mexico, NMSL offers interest rate reduction programs for medical doctors who practice in New Mexico. 
Private Student Loans

NMEAF issues no-fee, low-interest rate alternative student loans to help New Mexico’s students fund college degree programs at New Mexico’s public and private universities and for residents attending schools out of state. This program only issues loans to students whom we believe will be successful in repayment and we only offer fixed interest rate loans and have several benefits for students, including interest rate reductions and multiple repayment options. 

Federal Loan Refinancing

We are always finding ways to help New Mexico’s students save money on education expenses. Soon, we plan on launching a student loan refinancing program to help students consolidate federal student loans into one private loan with various benefits for our borrowers like lower interest rates, lower monthly payments, longer repayment periods, and better personalized customer service at our Albuquerque, New Mexico based office.