Roadrunner Capitol Reports
Legislation Detail

SB 86 GRADUATE SCHOLARSHIP ACT

Sen Harold James Pope

Actions: [1] SCC/SEC/SFC-SCC

Scheduled: Not Scheduled

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Summary:
 Senate Bill 86 (SB 86) modifies the Graduate Scholarship Act by changing eligibility, limiting fields of study, and increasing awards. SB 86 makes an appropriation.

 
Legislation Overview:
 Senate Bill 86 (SB 86) makes changes to the Graduate Scholarship Act. Students must be New Mexico residents attending a graduate-degree granting state university in New Mexico accredited by the Higher Learning Commission. The student must have earned a bachelor’s degree with a minimum 3.0 grade point average (GPA) or who is hired as a teaching or research assistant. Awardees must agree to serve the eligible institution during the academic year in an internship or assistantship at the institution, government agency, or private industry approved by the student’s academic department. Students must enroll in at least six credit hours and maintain at least a 3.0 GPA in a master’s or doctoral field and excludes Doctor of Medicine (MD) and nursing degrees other than Doctor of Nursing Practice (DNP). A graduate scholarship is awarded until graduation or received eight semesters of support.

SB 86 increases scholarship awards from a flat $7,200 per year to 100% of tuition and fees.

An appropriation in the amount of $5 million from the General Fund (GF) to the Higher Education Department is to fund graduate scholarships in Fiscal Year 2025. Remaining funds revert to GF.

The effective date of SB 86 is July 1, 2024.