News | New Mexico State Treasurer's Office

Albuquerque — New Mexico Student Loans (NMSL) announced an agreement with the
New Mexico State Treasurer’s Office that will assist New Mexico Student Loans in
providing educational loans for students and parents for the remainder of the 2008-09 academic year.

Under the agreement announced today, the New Mexico State Treasurer’s Office will
purchase a bond from NMSL totaling $95.1 million. This funding will ensure that the
residents of New Mexico, as well as any student attending New Mexico colleges and
universities, can continue to borrow loans for the remainder of this academic year.

“NMSL is pleased to again work with the State Treasurer on this private placement
bond, which allows us to continue to meet the needs of New Mexico residents as they pursue their educational dreams,” said Elwood G. “Woody” Farber, NMSL president and CEO. “We appreciate the willingness of the State Treasurer to continue his support even though the financial markets remain unsettled. We also appreciate the hard work of the State Treasurer’s staff in helping us to secure this additional funding in such a short period of time.”

“This bond purchase offers a unique short-term investment at a competitive rate and, most importantly, it will help NMSL provide the financial assistance and benefits that students and parents in New Mexico need,” said New Mexico State Treasurer James B. Lewis.

The Treasurer’s Office acts as the state’s bank, responsible for the receipt, accounting
and safekeeping of $5 billion of public money. The Treasurer’s Office also invests
public funds in the custody of the State Treasurer that are not immediately needed for
government operations or to fund capital projects.

The New Mexico Educational Assistance Foundation and the New Mexico Student Loan
Guarantee Corporation, dba New Mexico Student Loans, was created by the New Mexico
State Legislature in 1981. The organization’s primary function as a non-profit is to
provide loans for New Mexico residents and students who attend New Mexico colleges
and universities.

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