Forbearance Eligibility

The following Forbearance options only apply to Perkins Loans, see other Forbearance Options for other federal loans.

If your Title IV debt burden equals or exceeds 20% of your gross income, you may be eligible for forbearance.

Criteria Federal Perkins/National Direct disbursed on or after 07/01/93 Federal Perkins disbursed between 07/01/87 & 07/01/93 National Direct disbursed between 10/01/80 & 07/01/93 National Direct disbursed before 10/01/80 National Defense
Forbearance 3 years renewable annually 3 years renewable annually 3 years renewable annually 3 years renewable annually 3 years renewable annually

How to Apply

  • Complete, print and sign the Financial Arrangement (PDF) form.
  • Send the completed form to the following address or fax.
  • New Mexico Student Loans/Perkins Dept.
    P.O. Box 27020
    Albuquerque, NM 87125-7020
  • Fax: (505) 341-9361

Note: The Financial Arrangement form listed is available in portable document format (PDF). If you do not have a PDF reader, you can download a free copy from Adobe Acrobat Reader. It will take a few minutes to complete the download.