The New Mexico Higher Education Department (HED) has unveiled its FY25 budget recommendation, which includes an additional $12 million allocation for initiatives aimed at benefiting students and the state's workforce. The proposed general fund budget stands at $197 million, marking a growth of $12.05 million from the previous year. This increase is intended to maintain tuition-free college and expand successful education and workforce programs.
According to the HED, the FY25 budget earmarks $146 million for the New Mexico Opportunity Scholarship, regarded as the nation's most inclusive tuition-free college program. Other funding requests include $20 million for the Teacher Loan Repayment Program, $19.3 million for the Health Professional Loan Repayment Program, $969,100 for graduate student scholarships, and $1 million for the Minority Doctoral Loan Repayment Program. In addition to these allocations, there is a request for $500,000 to establish an anti-hazing division and a 15% increase in agency operations with a view to adding eight full-time staff members.
Acting Higher Education Secretary Patricia Trujillo, Ph.D., was quoted by HED saying: "This year’s budget builds upon the success New Mexico is seeing in higher education and ensures that students not only have access to college and career training opportunities but that they have the support they need to reach graduation day. By sustaining the groundbreaking Opportunity Scholarship, our record-breaking loan repayment programs and expanding additional supports for students, New Mexico will lead the nation not only in higher education access but in student success."
The mission of HED is to enhance New Mexico's higher education system through financial, academic, and policy oversight of public institutions while promoting efficiency and student success. According to information provided on its website, HED supports public universities, colleges, adult education programs; regulates private institutions; and offers inclusive programs. Its key divisions include Adult Education, GEAR UP (Gaining Early Awareness and Readiness for Undergraduate Programs), Private and Proprietary Schools, Indian Education, Institutional Finance, Financial Aid, Data, and Public Schools Liaison.
