Nearly every county in New Mexico faces a critical shortage of health care providers, according to state officials. Now, the state is offering what it says is the nation's most competitive state-funded loan repayment program in an effort to attract more doctors.
New Mexico faces a shortage of 5,000 health care professionals. State leaders hope expanding the Health Professional Loan Repayment Program will help recruit and retain providers.
Under the expansion, physicians can receive up to $300,000 in student loan repayment assistance over four years.
This is an expansion of House Bill 66, which passed unanimously this past legislative session, and represents a 200% increase in funding? and also directs 50% of the program’s annual appropriation to licensed physicians.
In addition, 25 other health care professional licensures are eligible for up to $25,000 per year with a three-year service commitment.
The Governor’s office has reported that since the launch of the program in 2019, 96% of participants remain in New Mexico to practice.
Higher Education Secretary Stephanie Rodriguez said many of the state’s current physicians are nearing retirement and the expansion is designed to attract providers to New Mexico long-term.
“What we really need are people who live in New Mexico who are rooted here, who have their families, who have homes to be the ones that are supported,” said Rodriguez.
Dr. Nathaniel Roybal said the program could help recruit doctors early in their careers.
“That’s who we love to get and keep into the state because ultimately you’re trying to recruit someone who would stay for an entire career,” said Roybal.
Applications are now open and close July 31st.
This coverage is supported by the W.K. Kellogg Foundation KUNM listeners like you.
