N.M. Admin. Code § 5.7.36.12

Current through Register Vol. 35, No. 23, December 10, 2024

Section 5.7.36.12 - LOAN AWARDS

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.

N.M. Admin. Code § 5.7.36.12

Adopted by New Mexico Register, Volume XXXV, Issue 12, June 25, 2024, eff. 6/25/2024