Loans

APPLYING FOR A FEDERAL DIRECT LOAN

The New Mexico Junior College participates in the Direct Lending Program, offering subsidized and unsubsidized loans 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!!!

The Free Application for Federal Student Aid (FAFSA) must be submitted and verification (if required) complete before a student loan will be disbursed.

STEP ONE

Complete the Student Loan Request Form below after you have completed steps two and three. The Financial Aid Office requires this form to certify your loan for disbursement. Please mail or fax your loan request back to the Financial Aid Office at 575.492.2559.

Email the Financial Aid Office at Financialaid@nmjc.edu to find out more information.

STEP TWO

Click here to complete the required Loan Entrance Counseling if you are a first time borrower.

STEP THREE

Click here to complete a Master Promissory Note for a Direct Loan if you are a first-time borrower with NMJC..

LOAN REPAYMENT

Exit Counseling is required before graduation or a drop in attendance below six credits in the Fall or Spring semesters.

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 loan servicer 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. If you are struggling to make your loan payments, contact your loan servicer or the Office of Financial Aid at 575-392-5172. Options are available that may help you avoid loan default.

If you do not know your loan servicer, contact information, or the amount you currently owe, you can find out here. Log in using your FSA ID and password.

Inceptia

You're not alone when it comes to student loans. NMJC has partnered with Inceptia, a division of National Student Loan Program (NSLP), to provide you with FREE assistance on your Federal student loan obligations to ensure successful, and comfortable, loan repayment. Inceptia's friendly customer representatives may reach out to you during your grace period to answer questions you have about your loan obligation and/or repayment options. They may also contact you if your loan(s) become delinquent. Inceptia is not a collection agency. We've partnered with them to help you explore a wide variety of possibilities such as alternative repayment plans, deferment, consolidation, discharge, forgiveness, and forbearance options. Inceptia will stay in touch with you via phone calls, letters, and/or emails to help you find answers to your questions and solutions to your issues.
For additional resources including information on repayment options, please visit Inceptia's Federal Student Loan Overview website at inceptia.org/FAQ.