New Mexico just made college free for residents - is it sustainable with use of recreational marijuana tax revenue?

[KILZ FILLZ]

New Mexico to fund free college for more students this fall
 

https://apnews.com/article/business-education-new-mexico-legislature-scholarships-4f6ece0f71915c52ee8aaf24d021e21b
 

February 18, 2022

 

This week Democratic majorities in the Legislature approved one-time funding of $75 million for a year-long program intended to help residents return to college if they couldn’t finish in the past, start even if they’ve been out of high school for a while, and have more help covering costs of school like fees and living expenses in addition to tuition.

 

If New Mexico can afford to keep paying for the program after the first year, people would be able to move to the state, establish residency, and get a free degree.

 

New Mexico’s Lottery Scholarships already offer free tuition to two and four-year colleges for residents who are also recent graduates of local high schools, but only if they can pay for their first semester and maintain at least a 2.5 GPA.

 

It’s estimated to be able to fund up to 35,000 students to pursue two and four-year degrees, as well as college certificates in high-demand areas like nursing, computer science and construction. Tuition and fees will be covered, even if they’re only studying part-time. And for those who qualify for federal aid, the money can go straight to students to cover living expenses.
 

The program also funds living expenses for students with financial need, albeit indirectly, and only for U.S. citizens and permanent residents.

 

The Opportunity Scholarship grants kick in before federal awards, allowing them to flow directly to the students and further reduce college debt. With tuition and fees covered, federal awards of between $500 and $6,000 per year can go toward the cost of books, rent and food.

While federal aid is restricted to U.S. citizens and legal permanent residents, New Mexico’s college subsidy programs are open to all residents, including foreigners on temporary visas and those in the country without legal permission.

 

Pretty much any adult who has lived in the state for 12 months and wants to earn college credits will be eligible for the new program, as long as they don’t already have a bachelor’s degree.

 

 

 

 

 

 

Governor signs free college bill, expands coverage

 

https://apnews.com/article/education-new-mexico-legislature-scholarships-michelle-lujan-grisham-adcbc203873ddf61925f0693f894115d

March 4, 2022

New Mexico’s governor signed a bill into law Friday that makes it even che aper for even more state residents to attend universities and community colleges.
 

Funding for the measure is possible thanks to record-high state revenues, as well as one-time federal pandemic relief money. Most of the new scholarship program doesn’t have a permanent funding source and would need new authorization from the Legislature next year.

 

State officials are still developing rules on which fees will be covered, according to Mexico Higher Education Department spokeswoman Stephanie Montoya, but there is a preliminary guide with details on the agency’s website. Priority would likely go toward fees required to take a class, like a lab fee, Montoya said.

 

“If it’s going to pay for fees other than tuition, I think that’s huge because I have a son who’s going to be a freshman at (New Mexico State University). And we’ve signed up for orientation, orientation is $175. We signed up to apply for the school. That’s another fee right there,” said Joe Teran of Las Cruces High School. He helps students through the logistics of college and financial aid applications.

 

 

 

 

 

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Covid relief fund and state budget surplus being out to good use. I don’t see it mentioned in either of these articles, but NM just rolled out recreational weed. So their budget surplus should be fine moving forward. $75mil/ year for free college out of an expected $300mil/ year in weed revenue… the numbers look good. 🤷‍♂️ 

 

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New Mexico Cannabis Control Division works to ensure smooth start to recreational marijuana sales

 

https://www.kob.com/albuquerque-news/new-mexico-cannabis-control-division-works-to-ensure-smooth-start-to-recreational-marijuana-sales/6407460/

 

March 01, 2022 06:19 PM
 

 

New Mexico’s Cannabis Control Division is working to make sure the start of recreational marijuana sales goes off without a hitch.

Legal sales must begin on April 1 in New Mexico, exactly 366 days after Gov. Michelle Lujan Grisham signed the Cannabis Regulation Act into law.

 

We feel a really big responsibility, you know, this has the potential to be an industry that brings in $300 million in sales annually, 11,000 new jobs for our state,”