Current through Register Vol. 35, No. 18, September 24, 2024
A. To the
extent that funds are made available from the fund, the board of regents or
governing bodies of public post-secondary educational institutions and tribal
colleges shall award tuition scholarships in department approved amounts as
follows:
(1) for returning student learners
an amount not to exceed the cost of tuition and fees for enrollment in at least
six credit hours, but not more than 18 credit hours in the fall or spring
semester and optional enrollment in no less than three credit hours, but not
more than nine credit hours during a summer semester.
(2) A scholarship may be awarded to a
qualified student for the summer semester enrolled in at least three and no
more than nine credit hours; provided that the summer semester is not required
to maintain eligibility; and further provided that during a summer semester the
student may enroll in more than nine credit hours but the scholarship shall be
capped at the tuition charged for nine credit hours; and
(3) for recent graduate learners an amount
not to exceed the cost of tuition and fees during a qualifying semester after
any available state and institutional aid has been awarded. Provided sufficient
funding exists in the Opportunity Scholarship Fund the award may be used to
supplement, but not supplant the New Mexico legislative lottery tuition
scholarship in an amount not to exceed the cost of tuition and fees for the
qualifying semester and summer semesters, and fees for other
semesters.
B. If the
fund does not cover full tuition scholarships the method the department will
use for calculating the tuition scholarship is as follows:
(1) estimate the total amount available in
the opportunity scholarship fund, based on transfers, current year balances and
additional funds made available through legislation;
(2) estimate the number of scholarship
recipients for each institution, based on department-endorsed institutional
projections;
(3) calculate the
tuition scholarship for each sector (research, comprehensive and community
college) and tribal college in accordance with Section 21-21N-4 NMSA
1978;
(4) calculate the total
amount needed to pay full tuition and fees to all estimated scholarship
recipients;
(5) compute an award
for each scholarship recipient; and
(6) notify institutions of the maximum award
by June 1st annually.
C.
In no case shall a student receive scholarship awards exceeding the total
amount of tuition and fees charged after all other state aid has been
applied.
D. Qualified students in
their graduating semester shall receive a tuition scholarship proportional to
the number of credit hours required to graduate. Students in their graduating
semester may enroll in fewer than six credit hours and maintain
eligibility.
E. For qualified
students in their first semester, preference shall be given to independent
students before other students to the extent funds are available.
F. Opportunity scholarships may supplement
but shall not supplant institutional aid such as three percent or bridge
scholarships in the first semester.
G. Opportunity scholarships may be awarded to
qualified students after institutional aid such as three percent or bridge
scholarships in the second semester and beyond.
