N.M. Admin. Code § 5.7.8.6 - OBJECTIVE
The objective and purpose of 5.7.8 NMAC is to provide aid for undergraduate students with substantial financial need who are attending public and selected private non-profit post-secondary institutions in New Mexico.
A. Title IV, Part 692,
Subparts A and B, of the Higher Education Act of 1965, as amended, established
the leveraging educational assistance partnership (LEAP) program to make
federal funds available to the states for the establishment or expansion of
grant programs for undergraduate students who are able to demonstrate
substantial financial need.
B.
Utilizing these funds, New Mexico can provide grants to qualified students of
up to $2,500 per academic year, including summer session enrollment. Recipients
of such grants must be residents of New Mexico who exhibit substantial
financial need. They must also be undergraduates enrolled at least half-time at
accredited public and private non-profit post-secondary institutions within the
state.
C. To obtain the LEAP funds,
New Mexico has designated the higher education department as the "single state
agency" to administer the program under Title IV, Part 692, Subparts A and B,
of the Higher Education Act of 1965, as amended.
Notes
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