NURSE LOAN REPAYMENT ACT

SB 11, the Nurse Loan Repayment Act, creates a state fund to repay student loans for New Mexico nurses working in designated underserved areas or as nursing educators. It directly affects licensed registered nurses (RNs) and licensed practical nurses (LPNs) who commit to four years of service in areas identified by the state as lacking sufficient nursing staff. The program provides up to $35,000 in total loan repayment ($7,500 annually for two years and $10,000 for the next two), with payments made directly to lenders. Nurses must meet eligibility criteria (NM license, U.S. citizenship/permanent residency, and service in designated areas or as faculty/preceptors), and non-compliance requires repayment of the award plus 15% interest. The bill excludes state loan-for-service programs, scholarships, and personal loans from eligibility.