ALBUQUERQUE, N.M. (AP) - The amount of per-student financial aid provided by scholarships mostly funded by New Mexico Lottery revenue is going up.
The Albuquerque Journal reports that increases that exceed more than $1,100 for some students will result from additional funding provided by the state and a reduced demand for scholarships due to enrollment drops.
The Higher Education Department says the program had a $4 million surplus as 2,400 fewer students received lottery scholarships in the 2017-2018 school year than projected.
Scholarships will rise to $2,294 per semester at research institutions such as the University of New Mexico, an increase of nearly $1,150 annually.
Students at “comprehensive” four-year institutions will get $1,560 per semester, for an increase of approximately $580 annually, while community college scholarship will rise to $581 per semester from $432.
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