Student Loans
Federal Student Loans and Parent Plus Information
Please visit the U.S. Department of Education (Student Loan information) or click this link (Parent Plus loan information).
Annual Loan Limits
Dependent Undergraduate Students
| Classification | Base Amount (SUB/UNSUB) |
Additional Loan (UNSUB) |
Total |
|---|---|---|---|
| Freshman | $3,500 | $2,000 | $5,500 |
| Sophomore | $4,500 | $2,000 | $6,500 |
| Junior | $5,500 | $2,000 | $7,500 |
| Senior | $5,500 | $2,000 | $7,500 |
Independent Undergraduate Students and Dependent Undergraduate Students Whose Parents Cannot Borrow PLUS
| Classification | Base Amount (SUB/UNSUB) |
Additional Loan (UNSUB) |
Total |
|---|---|---|---|
| Freshman | $3,500 | $6,000 | $9,500 |
| Sophomore | $4,500 | $6,000 | $10,500 |
| Junior | $5,500 | $7,000 | $12,500 |
| Senior | $5,500 | $7,000 | $12,500 |
Notes
Note 1: Satisfactory Academic Progress must be maintained by each student in order to maintain eligibility for any financial aid program (grants, work study, loans).
Note 2: A student may borrow no more than the annual limit shown for his/her combined subsidized and unsubsidized Stafford Loans.
Note 3: Additional loan amounts may be available to independent students and to student whose parents are ineligible for the Parent PLUS loan program.
*FAFSA is the Free Application for Federal Student Aid. New Mexico Tech's Title IV code for federal financial aid applications is 002654.
**Deadlines represent risk dates. Students who apply after these dates may find they are eligible, but may not be awarded certain types of aid due to limited funding.
Loan Repayment Information
If you have borrowed student loans to assist in financing your education, the Financial Aid Office encourages you to periodically visit the National Student Loan Database System to view your loan history and lender information. Please also take some time to review the resources below to help plan for repayment. You can contact our office at any time so that we can review your options, and answer any questions you may have regarding repayment.
Federal Student Loan Repayment Information The Department of Education's overview of basic loan repayment information
Federal Student Loan Repayment Checklist A handy tool to keep you on track with the loan repayment process
Loan Repayment Estimator We recommend using this estimator before deciding to take out loans, and during your time as a student, so that you fully understand the implications of each additional loan that you take out. The estimator allows you to see different repayment plan options and amounts that you would pay under each plan
Trouble Making Payments? This page will guide you as to your options if you are confused about or unable to make loan payments.
Video: How to Prep for Student Loan Repayment
Video: Your Guide to Student Loan Repayment Plans
Contact Financial Aid
Office Hours: Monday - Friday 8 AM - 5 PM
Location: Second floor of Fidel Center. Bear left at the top of the stairs; we are just past the Cashier's Office
Email: financial_aid@nmt.edu
Mailing Address:
New Mexico Tech - Financial Aid
801 Leroy Place
Socorro, NM 87801
Phone: 575-835-5333
Fax: 575-835-6519