New Mexico Junior College, 1 Thunderbird Circle, Hobbs, NM 88240 - Phone: 575.392.4510, 1.800.657.6260
© 1996-2012 New Mexico Junior College * All Rights Reserved
Loans
APPLYING FOR A FEDERAL DIRECT LOAN
The New Mexico Junior College participates in the Direct Lending Program under the NMJC Student Loan Code of Conduct offering Direct Loans, either subsidized or unsubsidized, to eligible students.
The Direct Loan Program at New Mexico Junior College is a three step process. Feel free to contact us at 575.392.5172 for additional information or assistance.
LOAN APPLICATION PROCESS
NOTICE!!!
FAFSA must be submitted and verification (if necessary) complete before loans will be disbursed.
STEP ONE
Click here for Entrance Counseling. You will not receive any loan funds without this step being completed. A completion score of 90% must be obtained.
STEP TWO
Click here to complete a Master Promissory Note for a Direct Loan.
STEP THREE
Complete the Student Loan Request form. The Financial Aid office needs this form in order to certify your loan for disbursement. Please mail or fax your application back to the Financial aid office at 575.492.2559.
Exit Counseling must be completed after graduation or a drop in attendance below six credits. Neglecting this step may risk forfeiture.
LOAN REPAYMENT
After you graduate, leave school, or drop below half-time enrollment toward a degree, you have six (6) months before you begin repayment. This is called a grace period.
Your lender will send you information about repayment, and you will be notified of the date repayment begins. However, you are responsible for beginning repayment on time, even if you do not receive this information. Failing to make payments on your loan can lead to default as outlined in both your Entrance and Exit Counseling.