By Staff Writer: Jamiliere Luranc Sweeney
Many college students are receiving the New Mexico Opportunity Scholarship, a state
funded initiative designed to make higher education more accessible for New Mexico
residents. This scholarship covers up to 100% of tuition and fees for students at public
colleges and universities in New Mexico.
Started by Governor Michelle Lujan Grisham in 2020, funding for the Opportunity
Scholarship comes directly from the state of New Mexico, mainly through the Higher
Education Trust Fund. In March 2024 senate Bill 159 allocated $959 million to this trust
fund to ensure sustainable financial support for higher education initiatives by drawing
from the Tax Stabilization Reserve Fund. The Tax Stabilization Reserve Fund is primarily
funded through excess revenues from the oil and gas industry. This ensures that programs
like the Opportunity Scholarship remain even during economic downturns.
The Opportunity Scholarship is available to New Mexico residents who have a high school
diploma, GED, or high school equivalency credential. It is designed to be inclusive and
accommodating for both recent high school graduates and adult learners. Recent
graduates must be enrolled as full-time students, while returning adult learners must be
enrolled in at least six credit hours per semester. Students can receive the scholarship
until they have either completed a degree or attempted 90 credit hours for two-year
degrees or 160 credit hours for four-year degrees. All recipients are required to maintain
New Mexico residency as well as a cumulative GPA of 2.5 or higher to remain eligible for
the scholarship.
By eliminating the financial burden of higher education, the Opportunity Scholarship
empowers New Mexicans to achieve their educational and career goals, thereby
strengthening the state’s workforce and economy.