Mds For New Mexico Physician Working Outside The State Of New Mexico - Request For Reduction Of Outstanding Principal Balance By 4.5% After Receiving 33 On-Time Monthly Payments Page 2
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2MDs for New Mexico Physician Working outside the State of New Mexico
Request for reduction of outstanding principal balance by 4.5% after receiving 33 on-time monthly Payments
Program Benefits
Once a borrower’s certification form is approved, his/her existing account with NMSL will be under
consideration for the future benefit. New Mexico Student Loans reserves the right to terminate this
incentive program at any time.
Eligible Loans
•
Stafford loans disbursed between January 1, 2005 and July 1, 2009 by the New Mexico Student
Loan Guarantee Corporation and owned by New Mexico Student Loans.
•
Grad PLUS Loans Disbursed on or before June 30, 2009.
•
Consolidation loans guaranteed by the New Mexico Student Loan Guarantee Corporation and
owned by New Mexico Student Loans.
Program Eligibility Requirements
1. Borrowers must have graduated from UNM Medical School and be working as a full-time practicing
Medical Doctor outside the State of New Mexico and providing services in a public or private
capacity, and listed in the DocFinders website.
2. Borrowers must file a certification form with NMSL annually.
3. The minimum monthly loan payment is $50.00. Eligible applicants must select the standard
repayment period for this program.
4. Loan(s) for which eligible applicants are seeking the benefit can not be delinquent or in default.
All delinquent or defaulted loans must be brought to current status before borrower may apply for
this program. Deferments or forbearances can not be used as a means to bring delinquent or
defaulted loans current.
5. Borrowers who choose to consolidate with another lender/broker or Direct Lending will lose
future program benefits.
6. Benefits are not retroactive.
7. Parent Plus loans are not eligible for this program.
8. Loans that receive MDs for New Mexico-Physicians Working in State of New Mexico, can not also
receive the Pot of Gold principal reduction.
Revised - 12/2013
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