Medical Labratory Sciences

Types of Financial Assistance

 Eligible undergraduate students may quality for the following grant programs:

  • Federal Pell Grant
  • Federal Supplemental Educational Opportunity Grant (Based on January 6, 2017 deadline and Pell eligibility)
  • Federal Academic Competitiveness Grant (ACG) - for specific year one and year two Pell Grant recipient
  • State Student Incentive Grant - need based grant for NM residents ( Based on January 6, 2017deadline)
  • NM College Affordability Grant - grant awards available to NM residents who receive no other state funded aid (excludes NM Work Study and based on January 6, 2017 deadline)
  • UNM Graduation Initiative Grant - for NM residents working on their 1st baccalaureate degree who are not awarded Legislative Lottery
  • UNM Grant - NM residents with exceptional need and enrolled in at least 6 credit hours (based on January 6, 2017  deadline)

Loans - These are sources of funding that a student or parent will have to repay. They come form different sources including the federal government, private lenders, and community foundations.

  • Federal Stafford Loan - a loan with a 3.76% subsidized/3.86% unsubsidized fixed rate. The student is the borrower of the loan and is responsible for repayment of the loan. The loan is limited to $5,500 for dependent freshmen, with increasing limits in subsequent years, unless the parent is denied a Federal PLUS Loan. Repayment begins when the student graduates or is enrolled less than half-time.  An origination fee of 1.069% will be applied to each disbursement. Repayment begins 6 months after the last date of attendance.
  • Federal PLUS Loan - A credit-based loan with a 6.31% fixed rate. The parent is the borrower of the loan and is responsible for repayment of the loan. An origination fee of 4.60% will be applied to each disbursement. Credit is checked for all PLUS loans. If there is an adverse credit history, the loan may be denied.Parents may borrow up to the cost of attendance minus any other financial aid. Parents begin repaying the loan while the student is in school unless the parent applies for forbearance.
  • Federal Perkins Loan - a loan with a 5% fixed rate. The student is the borrower of the loan and is responsible for repayment of the loan. This loan requires financial need. Repayment of the loan plus interest begins nine months after the student is no longer enrolled at least half-time.
  • Alternative Loans - credit -based loans from private lenders or foundations that generally have variable interest rates. Usually, the student is the borrower but will often times be required to have a co-signer.

Work Study - These are sources of funding that the student must earn. The funds are not deducted from UNM bills; instead the student will receive a paycheck. If a student is eligible, it will appear on your Financial Aid award notification.

  • Federal Work Study - requires that a student has financial need.
  • State Work Study - available to NM residents on both a need and non-need basis.

Student Employment - Many part -time employment opportunities are also available on and off campus. In these positions, the employer pays the wages.

Students conduct their own job searches at UNM Jobs, posted online at All wages adhere to federal minimum wage laws, and pay rates are dependent on experience and skills required.

Tribal Assistance - Contact your tribal agency if you are applying for tribal assistance. Submit the tribal needs analysis form to HSC Financial Aid Office for completion. Your financial aid file must be complete before we can send your needs analysis to your tribe.

NM Legislative Lottery Success Scholarship is a renewable full-tuition award, which may be received for up to eight consecutive semesters, beginning the student's second semester in college. The qualifying semester for the scholarship is the student’s first semester in college. No application is required.

Recipients must meet the following requirements:

  • Be a NM resident
  • Graduate from an NM public (or accredited NM private) high school or received a NM GED.
  • Enroll full-time in a Baccalaureate degree program during the first regular semester following high school graduation or receipt of the NM GED
  • Earn at least 12 credit hours with a minimum of a 2.5 grade point average during the first semester in college.