College Money for Undergraduate and Graduate Students
New Mexico Educators Federal Credit Union provides funding to New Mexico Student Loans, a nonprofit education lender which makes loans available to New Mexico college students. Contact them directly for more information.
- go to www.nmstudentloans.org
- call 345-3371, ext. 1471 (800-279-5063, ext. 1471, from outside the Albuquerque area)
- write NMSL, P.O. Box 92230, Albuquerque, NM 87199-9875
- visit their Albuquerque office is at 7400 Tiburon NE (south of Paseo del Norte and west of Jefferson NE).
About New Mexico Student Loans
New Mexico Student Loans (NMSL) was created by the New Mexico State Legislature in 1981 to make college more affordable and accessible. NMSL assists borrowers through fee and interest reductions. Undergraduate and graduate students and their parents can borrow from NMSL whether the student attends college in New Mexico or out-of-state.
New Mexico Student Loans invests in students with:
- convenient and quick student loan processing
- flexible repayment options
- student loan experts with answers to all your questions
Ways to Save Money
New Mexico Educators Federal Credit Union makes possible the following benefits for Stafford, PLUS, and Grad-PLUS loans:
- 0% default fee for borrowers.
- .25% interest rate reduction for electronic payments.
New Mexico Educators Federal Credit Union's NLSL Lender Code is #829689. Identify yourself as a member of New Mexico Educators Federal Credit Union when you contact NMSL.
HOW TO QUALIFY FOR FINANCIAL AID
To qualify for most types of financial aid – loans, grants, scholarships, campus employment opportunities and federal education loans – follow this process.
1. Confirm your eligibility. Students must be enrolled or accepted for enrollment on at least a half-time basis in a program leading to a certificate or degree at an eligible school.
2. Complete the Free Application for Federal Student Aid (FAFSA) form. Students should complete and submit a FAFSA as soon as possible after January 1. The application is available from high school counselors, college financial aid offices, public libraries, or at www.fafsa.ed.gov.
3. Review your Student Aid Report (SAR) and verify that the information is accurate. The SAR summarizes the information from your FAFSA and provides your financial aid eligibility. The SAR is also forwarded to the financial aid office at the school(s) you selected when completing your FAFSA.
4. Provide additional information requested by the school financial aid office, so they can determine your eligibility and award you financial aid.
5. Review your financial aid award package and discuss student loan opportunities with your school's financial aid office staff.
