Loans

Financial Aid and Scholarship Services at New Mexico State University is committed to providing educational funding options to students and parents to fulfill student’s goals and dreams.

Beginning with the 2010-2011 academic school year, New Mexico State University will participate in the William D. Ford Federal Direct Loan (Direct Loan) Program. Loans made through this program are referred to as Direct Loans. Eligible students and parents borrow directly from the U.S. Department of Education at participating schools. Direct Loans include subsidized and unsubsidized Direct Stafford Loans (also known as Direct Subsidized Loans and Direct Unsubsidized Loans), Direct PLUS Loans, and Direct Consolidation Loans. You repay these loans directly to the US Department of Education.

Student loans, unlike grants and work-study, are borrowed money that must be repaid, with interest, just like car loans and home mortgages. You cannot have these loans canceled because you didn’t like the education you received, didn’t get a job in your field of study or because you’re having financial difficulty. Loans are legal obligations, so before you take out a student loan, think about the amount you’ll have to repay over the years and review your borrower rights and responsibilities.

To learn more about federal student loans and how to manage your debt, visit the Federal Student Aid Gateway.

Loan Basics

Entrance Counseling
Accept a Loan
Exit Counseling
NSLDS: The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s (ED’s) central database for student aid. NSLDS receives data from schools, guaranty agencies, the Direct Loan program, and other Department of ED programs. NSLDS Student Access provides a centralized, integrated view of Title IV loans and grants so that recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data.

Available Loans

Federal Direct Stafford Subsidized/Unsubsidized Loans
Federal Perkins Loan
Federal Direct Parent Plus
Federal Direct Graduate Plus
Private Loans

Apply for Federal Direct Student Loans

(e.g. Subsidized, Unsubsidized, Parent PLUS, and Graduate PLUS)

Step 1. Complete the Free Application for Federal Student Aid (FAFSA).
Step 2. If you are awarded loans, accept your loan on your myNMSU account.
Step 3. Complete Entrance Counseling.
Step 4. Complete Master Promissory Note (MPN).

How to Apply for a Private Loan?

Step 1. Select a Lender
Step 2. Complete and e-sign the Master Promissory Note

It is important that all borrowers understand there are borrower rights and responsibilities that must be followed.