New Mexico Student Loans

student resourcesSince June 18, 2010, New Mexico Student Loans are no longer being processed. New Mexico Student Loans were offered by most of the renowned financial institutions and private banks: such as Chase Bank, Citi Group, and Sallie Mae. There are however numerous federal student loan programs to increase the available options.  Federal student loan programs also offer a consolidation option with a longer repayment schedule; however, the longer time period causes more money to be paid in comparison to private loans.

Features of New Mexico Student Loans

Various student loan providers in New Mexico offered various features. A credit worthy cosigner would help reduce the Annual Percentage Rate (APR). NM Student Loans also offered a deferment option where you could stop the repayments for a certain period  of time, subject to a valid reason.  You could start making payments after the completion of your studies; so nothing had to be paid  while you were still in school. These conditions still apply to loans processed before 2010. Banks, such as Chase, would also provide a free computer with the loan, which would help the student with research and studying.

Eligibility Criteria

There were different eligibility criteria for the New Mexico Student Loans, including citizenship and residency requirements.

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