A. Institutions shall make awards to qualifying eligible students based on financial need. The following provisions shall also apply to the scholarship:
- (1) each scholarship award is for a period of one semester;
- (2) the scholarship may apply to educational expenses including tuition, fees, books and course supplies and living expenses; and
- (3) awards shall not exceed six thousand dollars ($6,000) per academic year.
- B. A student may not receive more than five academic years of the scholarship. A scholarship may be renewed as long as the student continues to meet the conditions of eligibility in Subsection A of 5.7.34.8 NMAC and maintains satisfactory academic progress or until the student graduates from an eligible institution.
[5.7.34.9 NMAC - N, 7/30/2019]