ALBUQUERQUE, N.M. (AP) — The University of New Mexico has announced it will offer free tuition for first-time students whose families make $50,000 or less.
The Lobo First-Year Promise scholarship program was announced Thursday and is only available to next fall’s freshmen class.
University officials say the scholarship will cover tuition and fees not covered by other scholarships, grants and financial aid.
The university capped the qualifying household income at $50,000.
That’s about the state median income.
University officials estimate up to 1,500 students are eligible for the program.
Officials say the program could cost the university more than $9 million based on current tuition and fees.