The department may award a loan to one or two applicants each year who will be entering their final year of law school under the following conditions and limitations.
- A. The department shall set the amount of the portion of the loan that will pay for an applicant’s law school tuition, fees and a reasonable living stipend after consulting with the university of New Mexico school of law regarding tuition and average living stipend and considering the availability of funds.
- B. Upon selection of an applicant to receive a loan, a contract shall be drawn between the applicant and the department. The signed contract indicates the applicant’s acceptance into the program.
- C. In its annual determination of the number of loan awards, the department shall consider funding availability for loans for current participants.
[5.7.36.12 NMAC - N, 6/25/2024]