Student Loan
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Federal Consolidation Loan
The Federal Consolidation Loan combines two or more existing student loans into a new loan with a single, low monthly payment and an extended repayment period. Consolidation Loans are an excellent option for borrowers who have loans with more than one lender. Consolidating can eliminate the need to make multiple payments to multiple lenders. Borrowers may apply for a Federal Consolidation Loan during their grace period, once they have entered repayment, or during periods of deferment or forbearance. Continue reading
The Federal PLUS Loan (Parent Loan for Undergraduate Students) is an affordable, low-interest loan designed to help parents pay for their child’s education. This is a “government loan” meaning that it is guaranteed (or insured) by the federal government. Continue reading
The Federal Stafford Loan is the most widely used education loan for undergraduate and graduate students and does not require a credit check. This low-cost low-interest rate federal education loan is available directly to students and it’s easy to apply. Continue reading
Education loans are available to students and their parents and must be repaid, usually with interest. These loans have made attending college possible for many. Students and their parents should investigate all financial aid they may be eligible to receive before borrowing, limiting their borrowing to only the amount necessary. Continue reading
Over 15 million students are searching for the same college scholarships, grants and federal financial aid money you are.
Out of the 3 million new students who start college each year, only 48% actually graduate. The number one reason so many students are forced to drop out of college – lack of money. Continue reading
The Link Education Loan is a private education loan program providing supplemental educational financing for New Mexico students attending an eligible college. The Link Loan is intended to cover the student’s cost of attendance less any financial aid the student receives. It is the LINK between financial aid and the cost of attending school. Continue reading
The federal government sets interest rates on student loans; therefore, interest rates on Stafford and PLUS student loans are the same for all lenders. However, lenders offer a variety of ways to save you money on the cost of student loans. Follow these tips when choosing a lender: Continue reading
Because of the increasing cost of an education, many students find borrowing a student loan a necessity. New Mexico Student Loans participates in the Federal Family Education Loan Program (FFELP) and we can help you identify the student loan program that best fits your needs and, at the same time, show you how you can save money when you start repaying your loans. Continue reading
Student loans make a lot of sense when it comes to financing your education. However, before you borrow from any student loan program, be sure to investigate all sources of student aid that do not have to be repaid such as grants, scholarships, and employment opportunities. These gift, or free aid programs, and employment opportunities can help to reduce the amount that you will need to borrow, while you are pursuing your educational goal. Continue reading
The Lottery Success Scholarship helps offset tuition for any New Mexico high school graduate (or GED recipient) who wants to attend a New Mexico public college or university. Continue reading
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