Governor signs law increasing scholarship amount for college students
March 22, 2019 03:18 PM
ALBUQUERQUE, N.M. — A new law signed by Gov. Michelle Lujan Grisham could have a big impact on college students in New Mexico.
HB 127 increases the amount of money students can receive from the state by $500 per semester. It was sponsored by Rep. G Andrés Romero.
"The College Affordability Act, this legislative session, was revived by putting $25 million into the College Affordability Fund and we were able to increase the award from $1,000 to $1,500," said UNM graduate Felipe Rodriguez.
According to a report from New Mexico Voices for Children, only 31 percent of state-funded financial aid is going to students based on financial need.
That's low compared to the national average of 76 percent.
Now officials say they are able to give out 4,000 scholarships thanks to the increase in funding.
"It will help substantially because we know the tuition — at UNM and CNM — has increased to $1,300 so this amount of money could give a lot of resources to take classes and pay for their books," said Dr. C. Estela Vasquez Guzman of New Mexico Voices for Children.
"We hope the scholarship opens doors and opportunities and flexibility for students, for low-income students, for immigrant students and students of color in New Mexico," said Rodriguez.
Tuition at UNM and New Mexico State have increased by more than 40 percent since 2008.
Updated: March 22, 2019 03:18 PM
Created: March 21, 2019 04:12 PM
Copyright 2019 KOB-TV LLC, a Hubbard Broadcasting Company. All rights reserved