Chapter 21, Article 21L NMSA 1978 may be cited as the “College Affordability Act”. History: Laws 2005, ch. 192, § 1; 2007, ch. 70, § 1; 2007, ch. 71, § 1; 2007, ch. 85, § 1. ANNOTATIONS The 2007 amendment, effective July 1, 2007, changed the statutory reference to the act. Laws 2007, ch. 70, […]
The purpose of the College Affordability Act is to encourage New Mexico students with financial need to attend and complete educational programs at public post-secondary educational institutions in New Mexico. History: Laws 2005, ch. 192, § 2. ANNOTATIONS Effective dates. — Laws 2005, ch. 192 contained no effective date provision, but, pursuant to N.M. Const., […]
As used in the College Affordability Act: A. “commission” or “department” means the higher education department; B. “eligible student” means a New Mexico resident who is enrolled or enrolling at least half-time in a public post-secondary educational institution or tribal college at any time later than one hundred twenty days following high school graduation or […]
A scholarship may be awarded to an eligible student who: A. has not earned a baccalaureate degree at the time the scholarship is awarded; B. has demonstrated financial need consistent with the criteria promulgated by the department; and C. has complied with other rules promulgated by the department to carry out the provisions of the […]
A. The department shall administer the College Affordability Act and shall promulgate rules to carry out the provisions of that act. B. Scholarships shall be awarded to qualified eligible students. Qualifications shall be determined by rule of the department. C. The department shall allocate money to public post-secondary educational institutions and tribal colleges based on […]
Each scholarship is for a period of one semester. A scholarship may be renewed, provided the eligible student continues to meet the conditions of eligibility, until the eligible student graduates from a four-year public post-secondary educational institution. History: Laws 2005, ch. 192, § 6; 2007, ch. 70, § 5; 2007, ch. 71, § 5; 2007, […]
A scholarship is terminated upon occurrence of one or more of the following: A. withdrawal of the eligible student from the public post-secondary educational institution or tribal college or failure to remain as at least a half-time student; B. failure of the eligible student to achieve satisfactory academic progress; or C. substantial noncompliance by the […]
A. The “college affordability endowment fund” is created as a nonreverting fund in the state treasury, consisting of appropriations; unspecified gifts, grants and donations to the fund; and income from investment of the fund except as provided in Subsection C of this section. B. The “college affordability scholarship fund” is created as a nonreverting fund […]
