SANTA FE, N.M. (AP) — New Mexico students at four-year universities could see their lottery-financed [auth] scholarships sharply reduced under a proposal approved by the House to protect the solvency of the financial aid program.
The scholarships currently cover full tuition for New Mexicans who enroll in the state’s public college or university and meet certain requirements.
The program is projected to run out of money next year and if nothing is done by lawmakers, the state will lower all scholarship awards by perhaps a third.
A bill approved 46-17 by the House on Friday will at least halve scholarship awards to four-year university students but continue to cover full tuition at two-year colleges.
Republican Rep. James White of Albuquerque said more students can be served using that arrangement. The bill heads to the Senate.