New Mexico Governor signs nearly $1 billion college trust fund into law

(The Center Square) – New Mexico Governor Michelle Lujan Grisham signed Senate Bill 159 this week, establishing a nearly $1 billion taxpayer-funded trust and a scholarship program fund to fund tuition-free college in New Mexico.

“By creating this fund, New Mexico is keeping our original promise of tuition-free college for residents and cementing our status as the nation’s leader for college equity and access,” Governor Lujan Grisham said in a statement. “Our monumental investments from early childhood education to college and career are already making a life-changing difference for tens of thousands of New Mexicans and setting the example for every other state.”  New Mexico is the first state to create trust funds for both early childhood and higher education, the release said.

The Tax Stabilization Reserve Fund supports the Higher Education Trust Fund.

The Fund “will make it possible for state financial aid programs, including the Opportunity and Lottery
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