This text of New Mexico § 21-21N-4 (Tuition scholarship amount; fund) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
A. Prior to June 1 of each year, based on the amount appropriated by the legislature from the fund and on the projected enrollment at all public post-secondary educational institutions and tribal colleges, the department shall:
(1)determine the total amount of money available for all tuition scholarships for qualified students;
(2)determine the award amount for research institutions, comprehensive institutions, tribal colleges and community colleges; and (3) notify all public post-secondary educational institutions and tribal colleges of the determinations made pursuant to Paragraphs (1) and (2) of this subsection. B. In determining distribution and award amounts for the tuition scholarship program, the department shall:
(1)maintain the minimum fund balance pursuant to Section 21-21N-5
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A. Prior to June 1 of each year, based on the amount appropriated by the legislature from the fund and on the projected enrollment at all public post-secondary educational institutions and tribal colleges, the department shall: (1) determine the total amount of money available for all tuition scholarships for qualified students; (2) determine the award amount for research institutions, comprehensive institutions, tribal colleges and community colleges; and (3) notify all public post-secondary educational institutions and tribal colleges of the determinations made pursuant to Paragraphs (1) and (2) of this subsection. B. In determining distribution and award amounts for the tuition scholarship program, the department shall: (1) maintain the minimum fund balance pursuant to Section 21-21N-5 NMSA 1978; (2) distribute to all public post-secondary educational institutions and tribal colleges an amount not to exceed the remaining balance in the fund; and (3) subject to the provisions of Paragraphs (1) and (2) of this subsection, distribute to each public post-secondary educational institution or tribal college an amount based on: (a) the projected enrollment at each four-year public post-secondary educational institution and tribal college of qualified students in their first through seventh program semesters, including qualified students in their fourth through seventh program semesters who transferred from community colleges; (b) the projected enrollment at each community college of qualified students in their first through third program semesters; and (c) an award for each scholarship recipient distributed in amounts as follows: 1) one thousand five hundred dollars ($1,500) per scholarship per program semester for a student enrolled at a research institution; 2) one thousand twenty dollars ($1,020) per scholarship per program semester for a student enrolled at a comprehensive institution or tribal college; and 3) three hundred eighty dollars ($380) per scholarship per program semester for a student enrolled at a community college. C. If the total amount available pursuant to Paragraph (1) of Subsection A of this section is less than the amount calculated in Subsection B of this section, the department shall decrease the scholarship award amounts in a manner that maintains the distribution in the same proportions as provided in Subparagraph (c) of Paragraph (3) of Subsection B of this section. D. If the total amount available pursuant to Paragraph (1) of Subsection A of this section is more than the amount calculated in Subsection B of this section, the department shall increase the scholarship award amounts in a manner that maintains the distribution in the same proportions as provided in Subparagraph (c) of Paragraph (3) of Subsection B of this section.