ALBUQUERQUE, N.M. (AP) – Despite rising tuition rates at more than a dozen colleges and universities in New Mexico, state higher education officials say about 90 percent of eligible students’ tuition costs will be covered next year by lottery scholarship funding.
Still, officials are warning that without lawmakers adopting more reforms, the scholarship program will be affected.
New Mexico Higher Education Secretary Barbara Damron recently wrote to university officials.
She said changes made by the Legislature in recent years have benefited the solvency of the scholarship program, but lottery revenues aren’t keeping up with demands.
The program’s solvency has been a concern for years. Annual demand is about $60 million, and so far this year, the New Mexico Lottery has generated nearly $39 million for scholarships.