New Data Released at Series of Albuquerque Events Featuring State and Local Officials Shows Deepening Debt Crisis; Groups Call for Solutions

June 23, 2026 | ALBUQUERQUE, NM — Over two days this week in Albuquerque, New Mexico State Treasurer Laura Montoya, City Councilor Stephanie Telles, New Mexico Legislative Offices, and officials from the City of Albuquerque sat down with educators, advocates, and community organizations to talk about what’s happening to working families in their state. What they heard wasn’t abstract. 

New survey data released at the events by AFT New Mexico and Protect Borrowers found that four in five New Mexico educators and public employees surveyed cannot save money or are actively going deeper into debt. Nearly half are skipping needed medical or dental care because they cannot afford it. 38 percent have taken on additional jobs just to cover basic expenses. One in six depend on public assistance despite being fully employed. The survey of 552 respondents statewide, the majority of them pre-K and K-12 teachers, found that 64 percent do not expect to reach their financial goals. When falling behind, 69 percent cut food and household expenses first; 63 percent pay only the minimum on their credit cards.

Respondents described cutting back on groceries, working second and third jobs, and relying on public benefits despite being fully employed. 

New Mexico State Treasurer Laura Montoya said, “The difficult reality many New Mexicans face is that basic living expenses are growing more unaffordable than ever before. With policy decisions made at the national level causing gas and grocery prices to surge while wages remain stagnant, it is more important than ever to have a serious conversation about where we can come together to develop meaningful solutions that restore financial stability, expand economic opportunity, and renew hope for our working families.” 

Raul Bujanda, Executive Director of Public Safety, City of Albuquerque said, “Prevention and protection are shared responsibilities. Just as public safety works to prevent harm before it occurs, financial empowerment and consumer protection help families avoid financial crises before they happen. Achieving that goal requires collaboration across sectors, including government, nonprofit organizations, educators, advocates, financial institutions, and community members, to build stronger, more resilient communities,” said Raul Bujanda, City of Albuquerque Executive Director of Public Safety. 

“Finding real solutions to the debt and affordability crisis requires a permanent, structural commitment to our community,” said Dillon Shije, Director of the Office of Equity and Inclusion. “The establishment and ongoing mission of our Office of Consumer Protection and Office of Financial Empowerment remains a steadfast resource for residents navigating these hardships. This roundtable is about bringing partners together to listen, collaborate, and build practical, equitable pathways toward long-term economic relief.” 

Whitney Holland, President of AFT New Mexico said, “This is an incredibly timely conversation. As is clear from the survey data we shared, our  members and those from other unions across the state are struggling to make ends meet. The chaos of the student loan system is feeding into this and in the absence of a federal administration willing to work for people, we need state and local leaders to step up. This is why it’s so important to pass and fund a Student Loan Borrower Bill of Rights here in New Mexico, so that there is more oversight and a place for borrowers to go when things go wrong.” 

“Americans are feeling the financial weight of policy failure at every level. President Trump, despite promising to, is refusing to cap credit card interest rates. Rent and utility costs remain unchecked, and student loan servicing companies are not held accountable for misguiding borrowers. People are tired and suffering. We’re fortunate that local and state leaders in New Mexico are stepping up to create and push policies that actually work for our families and communities,” said Amy Czulada, Senior Advisor for Outreach and Engagement at Protect Borrowers.

The events included a community roundtable on Monday at the Albuquerque Museum hosted by Protect Borrowers, the City of Albuquerque Office of Consumer Protection, and the City of Albuquerque Office of Financial Empowerment, and a  policy briefing and free student debt borrower clinic hosted by AFT New Mexico and Protect Borrowers.

Student debt ranked as the most burdensome debt type in the survey, rated a “challenging” or “major burden” by many respondents. The data lands as a wave of federal student loan defaults builds nationally. More than 10 percent of student loans are currently 90 days or more delinquent, up from under 8 percent a year ago. The Trump Administration has moved simultaneously to cut Income-Driven Repayment protections and dismantle federal student loan oversight through the One Big Beautiful Bill Act (OBBBA).

Protect Borrowers has helped pass Borrower Bill of Rights legislation in 19 states, covering more than 20 million borrowers. New Mexico has not yet enacted such a law.

View the fact sheet on student debt in Albuquerque, NM here.

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About AFT New Mexico

AFT New Mexico represents 30,000 public educators including K-12 Certified, Classified, Transportation, and Higher Education Professionals in 30+ locals across the state. 

The mission of the American Federation of Teachers, AFL-CIO, is to improve the lives of our members and their families, to give voice to their legitimate professional, economic, and social aspirations, to strengthen the institutions in which we work, to improve the quality of the services we provide, to bring together all members to assist and support one another and to promote democracy, human rights, and freedom in our union, in our nation, and throughout the world.

About the City of Albuquerque’s Office of Consumer Protection

The City of Albuquerque’s Office of Consumer Protection works to help residents know their rights and avoid unfair and deceptive business practices, expand city services to help those harmed by an unfair or deceptive business, advocate to strengthen legal protections for consumers, and take action against businesses that violate the law and take advantage of consumers.

About the City of Albuquerque’s Office of Financial Empowerment (OFE)

The City of Albuquerque’s Office of Financial Empowerment (OFE) is dedicated to making financial stability and thriving communities a reality for all residents. By recognizing the unique challenges faced by individuals and families in managing their finances, OFE serves as a trusted resource and partner in fostering economic resilience. Through education, advocacy, and access to essential services, the OFE empowers individuals and families to achieve financial independence, break down barriers, and build sustainable futures.

About Protect Borrowers

Protect Borrowers (formerly Student Borrower Protection Center) is a nonprofit organization led by a team of experts, lawyers, and advocates fighting to build an economy where debt doesn’t limit opportunity. We investigate financial abuses, take predatory companies to court, and push for policies to protect working people from debt traps. We aim to deliver immediate relief to families while building power, driving systemic change, and fighting for racial and economic justice.

Learn more at protectborrowers.org or follow us on social @BorrowerJustice.