EVERY YEAR, NEW MEXICO'S LOTTERY SCHOLARSHIP FUND FALLS MILLIONS OF DOLLARS SHORT OF DEMAND. NOW, A BILL HAS BEEN INTRODUCED IN THE LEGISLATURE TO TRY TO MAKE THE FUND SOLVENT.
SENATOR JOHN ARTHUR SMITH SAYS ONE PROVISION IS DE-COUPLING THE FUND FROM TUITION INCREASES. HE SAYS THE STATE WOULD CAP TUITION, LIMITING HOW MUCH THE PROGRAM WOULD PROVIDE.
THE BILL ALSO RAISES THE MINIMUM REQUIREMENTS FROM 12 TO 15 HOURS PER SEMESTER…AND FROM A 2.5 GPA TO 2.75. THE TERM OF THE SCHOLARSHIP WOULD ALSO BE CUT FROM EIGHT TO SEVEN SEMESTERS.
