2011 New Mexico Statutes
Chapter 21: State and Private Education Institutions
Article 22: Medical Student Loans, 21-22-1 through 21-22-10
Section 21-22-4: Medical student loans; commission on higher education authorized; qualifications.

21-22-4. Medical student loans; commission on higher education authorized; qualifications.

A. The commission is authorized to grant a loan to defray the expenses of the medical education of a student deemed qualified by the commission to receive the medical education, upon such terms and conditions as may be imposed by regulations of the commission.

B. The commission shall only receive, pass upon and allow or disallow those applications for loans made by those students enrolled or accepted by colleges of medicine who are bona fide citizens and residents of the United States and of New Mexico who declare their intent to practice as physicians within designated areas of the state.

C. The commission shall make a full and careful investigation of the ability, character and qualifications of each applicant and determine his fitness to become a recipient of a student loan. The investigation of each applicant shall include an investigation of the ability of the applicant and his parents or guardians to pay the applicant's expenses for a medical education. The commission shall give preference to qualified applicants who are unable, or whose parents or guardians are unable, to pay the applicant's expenses in obtaining a medical education.

D. The commission shall arrange for loan recipients to receive assistance in locating, planning and implementing the establishment and maintenance of a medical practice in a designated underserved area.