A. The commission [department] may grant a loan to a student deemed qualified by the commission [department] upon such terms and conditions as may be imposed by rule of the commission [department].
B. The commission [department] shall only receive, pass upon and allow or disallow an application for a loan made by a student who declares his intent to serve as a public school teacher in a designated teacher shortage area of New Mexico. Teacher shortage areas may be either geographic or discipline specific.
C. The commission [department] shall make a full and careful investigation of the ability and qualifications of each applicant to become a recipient of a loan. The commission [department] shall give preference to qualified applicants who demonstrate financial need.
D. The commission [department] and the state department of public education shall arrange for loan recipients to receive assistance in locating employment with public schools in New Mexico.
History: Laws 2001, ch. 288, § 4.
ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
For designation of the commission on higher education as the higher education department, see 9-25-4.1 NMSA 1978.
Effective dates. — Laws 2001, ch. 288, § 11 made the Teacher Loan for Service Act effective July 1, 2001.