30 minutes
New Mexico Teaching Program Finances
Explore options for financial aid, scholarships, loan forgiveness and more.
Explore options for financial aid, scholarships, loan forgiveness and more.
You know what you want to teach and what program you want to attend. You’re excited to start your teaching program, but then you see the tuition bill. How will you pay for this? Is a teaching program worth the cost?
The short answer is yes. Becoming a teacher doesn’t just mean getting your degree and teaching license. You’re also starting a career that makes a difference in your community, offers a competitive starting salary, includes health and retirement benefits, and comes with professional growth built into the job.
When deciding how to pay for your teaching program, remember that you have options. Here, we guide you through some of the best ways to pay for your program.
If you have any questions about your teaching program applications, reach out to a TEACH New Mexico coach or program admissions staff for support. We’re here for you.
The first step is to look for grants and scholarships from your program. If your teaching program is through a college or university, you may be eligible for funds from the government through the Free Application for Federal Student Aid (FAFSA).
The great thing about these resources is that you don’t have to pay them back. And you may qualify for more than one type of free financial aid!
Grants are free money for school. They come from the government or local organizations and colleges. These resources are often awarded based on things like income and family size. Some grant providers, such as small businesses and nonprofits, may have specific eligibility requirements.
The TEACH Grant—which is unrelated to TEACH New Mexico—is a specific type of award offered by the Federal Student Aid office (the same one that runs FAFSA). The TEACH Grant offers up to $4,000 a year to students entering the teaching profession.
Sticking to these guidelines is important. Otherwise, your TEACH Grant turns into a Direct Unsubsidized Loan, which means you have to pay it back with interest. See the TEACH Grant website for more details.
Scholarships are generally awarded to students who have met specific qualifications in areas such as athletics or academics. You may also find scholarships based on the major you choose, your career choice, your hometown, or other factors like your background.
Scholarships can come from schools, government aid or private organizations. There are hundreds of scholarships and grants out there, ranging from small awards to full-ride scholarships.
The TeachUp Scholarship Program lets you earn a free bachelor's degree in education through a partnership between San Juan College and Western New Mexico University. The program is designed for New Mexico students, especially those working as educational assistants or substitute teachers, or anyone interested in becoming a K-12 teacher. The scholarship covers tuition, fees and textbooks. You just need to commit to teaching in New Mexico for two to three years after you get your teaching license.
Visit the TeachUp Scholarship Program page to learn more.
If you fill out the FAFSA and apply to a college, you are automatically considered for many scholarships—but not always. Check with your teaching program or financial aid office, and search websites like Fastweb, Niche and Scholarships.com to find more scholarships in your area.
You can also check out the Financial Aid Explorer to search for opportunities in New Mexico, or browse our national list of financial aid and scholarships specifically for future teachers.
Are you a Native American student? Get information about grants, scholarships and student loans just for you, through the Native Forward Scholars Fund and the American Indian College Fund.
TEACH New Mexico offers scholarships to future teachers! Check out the TEACH New Mexico Scholarship page to learn more!
Typically, you’ll need to attend a licensure program through a college or university (rather than an alternative certification program) to be eligible for FAFSA financial aid.
To find out if your program is eligible, you can use the FAFSA school search tool. You can ignore the Federal School Code question; you don’t need to know yours to use the tool.
The FAFSA becomes available in December of the year before you want to enroll in a program. So for the 2025-26 school year, you could submit your FAFSA after December of 2024.
The federal deadline to submit your FAFSA is June 30. For more information about New Mexico state deadlines, contact your teaching preparation program.
Schools use the information in your FAFSA to determine your eligibility for grants, scholarships and loans. Remember that some forms of aid are first-come, first-served, so apply as soon as you can!
When you apply for financial aid through FAFSA or through your program, you’ll need to provide some background information. You’ll likely be asked for your name, Social Security Number, email and other general background information.
Some forms also include a Release of Information, which lets specified individuals and organizations access your form details. You’ll need to sign the ROI before your information can be shared.
It’s a good idea to consent to this section, because it lets you be considered for additional financial aid programs.
Most colleges and universities offer work-study options, which let you earn money by working part-time (usually on campus).
You can often match your work-study position to your program. For example, you may be able to work as a teaching assistant or academic tutor. That means you can get hands-on instruction experience while you pay for your education.
If you already have a bachelor’s degree, you can choose to do an alternative licensure program to become a teacher.
Alternative licensure lets you earn a salary while you become a licensed teacher. Learn more at our Alternative Licensure page.
If you have a high school diploma but no bachelor’s degree, you may qualify for the Educator Fellow program in New Mexico.
The two-year Educator Fellows program, run by the New Mexico Public Education Department, lets you explore teaching. Fellows get mentorship and coaching from experienced teachers, full benefits, paid leave for college classes or course work, hands-on classroom experience and a stipend. Visit the Educator Fellows page to learn more.
If you already work in a school district, you might want to continue working full- or part-time while attending your teaching program. Many New Mexico school districts offer programs with discounted tuition for employees who are looking to get licensed. It’s worth finding out if your school offers extra support for employees who are pursuing a teaching license.
Your school may have scheduling support, such as revised work hours. For example, if your normal work hours are from 8:00am - 4:00pm, your school may let you leave a few hours early in order to attend class.
Schools may also provide tuition reimbursement for staffers who are choosing to continue their education.
Not only does the assistance benefit you, it’s also a great way for schools to retain skilled and driven employees. Consider asking about these programs in your next interview.
Programs like AmeriCorps offer opportunities to serve in a community and explore career paths. Some AmeriCorps programs provide hands-on experience for people who want to become teachers.
AmeriCorps partners with other programs and organizations that can help you transition into the classroom after your service.
AmeriCorps positions can last for three months or longer. You’ll earn a small stipend during the program.
AmeriCorps alumni also receive an education award after completing their term of service, which ranges from about $350 to over $6,000, depending on how long you worked for AmeriCorps. You can apply that money to any educational expenses, including tuition and student loans!
AmeriCorps offers positions in New Mexico in the Indigenous Educator Corps, which provides educational support for Native American students.
Members tutor, mentor and assist in classrooms and after-school programs, focusing on community needs and strengths.
Watch the video to learn more or visit the AmeriCorps Education page and scroll down to Indigenous Educator Corps.
While taking out loans may not be your favorite option, federal student loans have some perks.
Click to learn more about federal student loan options.
What’s the difference between subsidized and unsubsidized loans?
Subsidized loans will not accrue interest until after you graduate (usually six months after). Unsubsidized loans start to accrue interest as soon as you receive the money.
Schools and teaching programs may also offer you loans, which you have to pay back with interest. Some programs offer subsidized loans, while others do not (remember, subsidized loans do not accrue interest while you’re completing your program, while unsubsidized loans do.)
You can always reduce the amount of loans you accept, or completely decline them if you don’t need them.
Keep in mind that most programs are through colleges and non-profit organizations, so they keep fees low. If you’re considering a for-profit teaching program, make sure to ask about interest and fees.
If you do use federal loans to pay for your program, you may be able to have all or part of your loans forgiven without paying them back. The federal government offers teachers, especially those who serve in high-need subjects or schools, several ways to apply for loan forgiveness (these programs generally do not apply to private loans through your school).
Check out these programs on the Federal Student Aid website:
Remember, you've got options to pay for your teaching program. It all comes down to what works best for you financially.
Don’t forget: You’re not finished once you hit that submit button!
If you attend a college or university, you’ll get a financial aid letter (or email) with the details of your award offer. You will have to accept these offers to receive them.
Once you formally accept your financial aid package, you’ll be one step closer to getting your teaching license!
As you explore financial aid, you’ll probably apply to some teaching programs. Most programs require a fee—usually around $50—when you submit your application.
Some programs offer fee waivers based on income. Check with an admissions officer to see if you qualify.
You can sign up for TEACH Fee Reimbursements to get up to $100 toward eligible application and testing fees! When you sign up for Fee Reimbursements, we’ll also set you up with a personal coach and checklist app, to help you keep track of application steps and deadlines.
Yes! Check out the TEACH New Mexico Financial Aid Explorer to find financial aid opportunities in New Mexico.
Most scholarships, grants and other opportunities have specific deadlines listed on the funding organization’s website.
Usually these pages also provide instructions to guide you through the application process.
What exactly your financial aid covers will depend on your specific award.
Some funding will cover any education-related cost, including tuition, student housing, textbooks and school fees. Other awards only cover tuition. Check to find out what you can pay for with your funds!
If you’re awarded a scholarship or grant, how you receive that money will depend on the terms of the award. Some programs will send funds to you directly. Others will distribute it to your college or university on your behalf.
Other financial aid, such as loan forgiveness, might go directly to your loan provider to deduct from the remaining balance of your loans.
You can usually find additional details about fund distribution on your funding organization’s website.
TEACH New Mexico currently only provides support and information for teaching opportunities within the United States.
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