Section 21-29-4 – Commission [department] powers and duties; contracts.
A. The commission [department] may: (1) arrange with other agencies for the performance of services required by the provisions of Section 3 [21-29-3 NMSA 1978] of the WICHE Loan for Service Act; (2) sue in its own name for any balance due the state from a student on a contract; (3) cancel a contract made […]
Section 21-29-5 – Fund created; method of payment.
The “WICHE loan for service fund” is created in the state treasury. All money appropriated for loans to students participating in the student exchange program of the western interstate commission on higher education [higher education department] shall be credited to the fund. All payments of principal and interest on loans made pursuant to the WICHE […]
Section 21-29-6 – Cancellation.
The commission [department] may cancel a contract with a student for reasonable cause deemed sufficient by the commission [department]. History: Laws 1997, ch. 126, § 6. ANNOTATIONS Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law. For designation of the commission on higher education as the […]
Section 21-29-1 – Short title.
This act [21-29-1 to 21-29-6 NMSA 1978] may be cited as the “WICHE Loan for Service Act”. History: Laws 1997, ch. 126, § 1. ANNOTATIONS Cross references. — For Teacher Loan for Service Act, see 21-22E-1 NMSA 1978 et seq. For the Western Regional Cooperation in Higher Education Compact, see Chapter 11, Article 10 NMSA […]
Section 21-29-2 – Definitions.
As used in the WICHE Loan for Service Act: A. “commission” [department] means the commission on higher education [higher education department]; and B. “student” means a New Mexico resident who is a graduate of a New Mexico high school or has resided in New Mexico for three consecutive years immediately preceding application to the program […]
Section 21-29-3 – Student exchange program; terms of student loans; payback requirements.
A. Financial assistance by the state for the student exchange program of the western interstate commission for higher education shall be through a loan program established pursuant to this section. B. A student may receive a loan of tuition assistance on the following terms: (1) the loan shall not exceed an amount equivalent to the […]