Lottery scholarship program faces financial squeeze

Friday, July 29, 2005 | 9:23 a.m.

SANTA FE -- A popular college scholarship program faces a potential financial shortfall in several years because projected revenue from the state lottery isn't keeping pace with student demand for the scholarships and rising tuition costs, lawmakers were told Thursday.

The latest financial projections could derail proposals by Gov. Bill Richardson and lawmakers who have advocated expanding student eligibility for the scholarships to allow more New Mexicans to attend college.

The projections were outlined Thursday to a legislative group by top officials with the New Mexico Lottery.

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