N.M. Admin. Code § 5.7.2.12
Current through Register Vol. 35, No. 21, November 5, 2024
Loans can be made to students to defray expenses incurred in obtaining an eligible health profession education under the following conditions and limitations.
A. The amount is dependent upon the relative need of each student, but may not exceed twenty-five thousand ($25,000) per year. The department may set lower maximum award amounts based on the level of degree being obtained and other considerations. The exact amount of the loan for which the applicant is eligible will be determined as a result of an analysis of the financial situation of each applicant using a standard needs analysis carried out by the financial aid office of the student's institution.B. Upon approval of the loan, a contract shall be drawn between the student and the department and signed by the student (for additional contract details see Section 5.7.2.14 NMAC).N.M. Admin. Code § 5.7.2.12
7/15/98, 5.7.2.12 NMAC - Rn, 5 NMAC 7.2.12, 6/29/01; A, 5/30/08