N.M. Admin. Code § 5.7.4.10

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

Section 5.7.4.10 - RESPONSIBILITIES OF THE DEPARTMENT

The department shall:

A. promulgate rules for implementing the program in consultation with the university;

B. publicize the program to medical students and to prospective medical students;

C. collect and manage repayments from students who do not meet their obligations under the program;

D. solicit and accept funds for the program, including grants and donations;

E. award no more than 10 new loans a year, in addition to renewing existing waivers for eligible participants, subject to the availability of funding;

F. promulgate rules setting the maximum amount of the reasonable living stipend. The department shall determine the maximum amount of the living stipend based upon the availability of funds and information provided by the university regarding the current cost of attendance at the school of medicine;

G. for a period of no more than five years, allow participants to remain in the program and receive continued loans in accordance with the availability of funds and the department's finding that the participant is meeting the university's standards for satisfactory academic progress;

H. shall award loans to participants from the fund. Approve the amount of the loan granted to a participant. The amount of the loan awarded to a participant shall not exceed a reasonable living stipend plus the amount of resident tuition and fees that a participant incurs.

N.M. Admin. Code § 5.7.4.10

5.7.4.10 NMAC - N, 10/31/2013