Created: 02/15/2014 12:06 PM
By: BARRY MASSEY, Associated Press
SANTA FE (AP) — The House has approved a proposal to shore up a lottery-financed scholarship program by trimming the financial aid awards for college students to less than the full cost of tuition.
The measure passed the House on a 65-1 vote on Friday and goes to the Senate, which is developing its own proposal.
The program faces a shortfall because lottery revenue isn't keeping pace with rising scholarship costs. Under the legislation, the state would set scholarship amounts each year as a percentage of tuition based on available revenue and the number of eligible students.
Currently, students can receive scholarships for eight semesters. That would drop to seven under the legislation.
Republican Rep. Jason Harper of Rio Rancho said the proposal was the most equitable way of fixing the program's problems.
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