The University of New Mexico notified students and parents recently of the final New Mexico Lottery Scholarship amounts available for 2015-16. The awards still won’t meet 100 percent of tuition, but with enrollment numbers for the coming semester low and fewer students meeting the eligibility requirement of 15 credit hours, UNM students receiving the scholarship can expect to have approximately 93 percent of their tuition paid.
The scholarship is expected to cover up to $2,403 per semester for main campus students and up to $609 per semester for branch campus students.
Letters and emails to qualifying students have been sent alerting them to the changes and directing them to familiarize themselves with the terms of the adjusted awards.
The lottery scholarship’s solvency has been in question for some time and with a demand of around $60 million annually, many students have been facing this financial uncertainty for much of their college careers.
Tuition at New Mexico schools averages $2,500 a semester at research universities, $1,500 at four-year colleges and $600 at two-year community colleges.
Students are encouraged to review the eligibility requirements to maintain their UNM Scholarship(s). Also, students are required to familiarize themselves with the Policies and Procedures for Lottery Scholarship (if applicable) and Non-Lottery Scholarships. If students do not meet the requirements, they risk losing scholarship funding.