The New Mexico Educational Assistance Foundation dba New Mexico Student Loans (NMSL) announced today that it forgave $1.5 million in Federal Family Education Loan Program student loans.

Beneficiaries of the program include borrowers who work as teachers, nurses and early education childcare providers. The more than 230 borrowers, who will benefit, were notified the end of May.

The Foundation - along with its sister organization, New Mexico Student Loan Guarantee Corporation - does business as New Mexico Student Loans. A 501(c)(3) non-profit organization, the Foundation was created by the New Mexico Legislature in 1981 to improve educational opportunities for New Mexicans through loan, scholarship, grant, work-study and other assistance programs. The Foundation’s board of directors includes regents of the state’s six public universities, community and private college representatives, bankers and the state treasurer.

Posted 06/30/08 to www.NASFAA.org. Posting of press releases is done as a service to Members and does not imply endorsement or support by NASFAA. NASFAA does not review this information for content or accuracy.