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Thu May 29, 2014
New Mexico Announces Lottery Scholarship Amounts
The Higher Education Department says there's enough money in the state's lottery-financed scholarship program to provide full awards in the fall semester to eligible New Mexico college students.
The department made the announcement in a letter sent Thursday to universities and colleges.
Lawmakers changed the program earlier this year to shore up its finances.
The scholarships used to cover 100 percent of tuition. But with the changes, students will receive the average tuition for the type of college they're attending or full tuition at their school if it's lower.
The scholarships are estimated at $2,519 a semester for students at the three research universities, about $1,570 for other four-year colleges and $643 at two-year community colleges.
State law requires scholarship reductions if there's not enough money to cover average tuition.
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