Education Loan Programs

Private Student Loans

STOP: Have you completed your FAFSA first?

We want to help you graduate

Looking for money for school? A private student loan is a good option for certain students to complete your undergraduate degree, graduate degree, online degree or trade school certification. We will issue loans up to 100% of your school-certified undergraduate and graduate school costs.

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A New Mexico Student Loan is a fixed-rate supplemental education loan for graduate and undergraduate students enrolled at least half-time. The New Mexico Educational Assistance Foundation encourages prospective customers to exhaust their federal financial aid, scholarship and grant options before applying for a private student loan.


Top 10 reasons to apply for a student loan with NMEAF:

  1. We are a non-profit organization
    That’s right – we are NOT for profit. Unlike other lenders, all of the money we earn beyond expenses goes back into helping students and families plan, prepare and pay for college.
  2. We won’t issue bad loans
    Sorry, but if we feel that a private student loan is not in your best interest we won’t approve your application. We want our students to have a healthy financial future.
  3. We only offer Fixed Interest Rates
    Unlike other private loan providers, we don’t issue Variable Interest Rate loans because we care about your financial future. Fixed interest rates allow you to plan for and establish a reasonable loan repayment strategy. Government student loans also only have fixed interest rates.
  4. We’re based in New Mexico
    We understand New Mexico’s students and universities better than any other student loan provider. If you ever want help in person you can visit our friendly representatives in our office in Albuquerque. Also, when you borrow from us, you are helping employ fellow New Mexicans.
  5. Interest rate reduction for on-time payments
    We believe you will be a good borrower so after 24 consecutive on-time repayments we will reduce your interest rate by 0.25%.
  6. Graduation interest rate reduction
    Your success matters to us. When you graduate we will reduce your interest rate by 0.25% as our special graduation present to you.
  7. No origination or disbursement fees
    We won’t charge you for processing or disbursing your student loan, we feel this is money that should stay with you. All student loans have no penalties for early payments.
  8. Multiple repayment options
    We care about your financial future success so we will work with you to find the right loan repayment plan. And, if you sign up for automatic payments we will reduce your interest rate by 0.25%.
  9. More than 35 years of experience
    We’ve been helping New Mexican families by servicing student loans since 1981. Our experienced and knowledgeable team provides excellent customer service and has a proven history of success.
  10. We help New Mexicans with resources
    All of the money we earn above operating costs goes back to our public service mission of helping our community plan, prepare and pay for college.

Learn about our loan rates and eligibility requirements

Apply Now


Borrow Responsibly
The best way to pay for college is scholarships, grants, savings and federal student loans. Make sure you evaluate all anticipated monthly loan payments and how much you expects to earn in the future after graduating before considering a private student loan.