LAS CRUCES, N.M. (AP) — Regents at New Mexico State University have approved an increase in tuition for the next school year.
University leaders said Tuesday the revenue that will come from the 3% increase will be needed to support additional student scholarships and because of continued uncertainty with the state’s budget contribution for the coming year.
Chancellor Dan Arvizu said under any scenario, a tuition increase was going to be necessary given the financial effects of the dramatic drop in oil prices.
The state’s budget relies heavily on the price of oil. Even with the tuition increase, the university still projects a deficit for the coming year.