Nursing Loan-For-Service
Scholarship Sponsored by New Mexico Higher Education Department
Purpose
The Nursing Loan-for-Service program exists to boost the number of nurses serving in New Mexico communities identified as having workforce shortages by providing educational loans to students entering nursing programs.
Service Obligation and Loan Forgiveness
Each borrower must commit to practicing as a health professional in a designated shortage area within New Mexico as a condition of receiving a loan. Portions of the loan are forgiven for each year the borrower completes service in an approved shortage area; satisfying the entire service obligation makes the borrower eligible for full (100%) loan forgiveness. Failure to complete the agreed service will result in penalties.
Eligibility
Applicants must meet all of the following:
- Be a New Mexico resident for at least 12 consecutive months.
- Have official acceptance into a nursing program at a New Mexico public college or university.
- Be enrolled at least half-time.
- Demonstrate financial need (complete the FAFSA and meet Satisfactory Academic Progress (SAP) requirements).
- Declare intent to practice as a health professional in a designated New Mexico shortage area.
How to Apply
- Complete the FAFSA.
- Submit the Nursing Loan-for-Service Application through the Submittable system.
- Current awardees who wish to continue receiving funds must reapply each year.
Application Period
Applications are accepted annually from May 15 through July 1. The online application will be posted on this page beginning May 15 and removed after the July 1 deadline.
Award Amount
Awards are awarded based on demonstrated financial need and will not exceed $16,000.00 per academic year.
Duration and Renewal
Each award covers one year. Recipients may reapply annually; the award may be renewed for up to four years total, subject to annual application and continued eligibility.