Section 21-21-16 - Definitions

As used in the Student Loan Guarantee Act [21-21-14 to 21-21-24 NMSA 1978]: A. 'board' ['commission' ['department'] means the board of educational finance [commission on higher education [higher education department]]; B. 'eligible student' means a resident of New Mexico who has been accepted for enrollment or who is enrolled in a participating institution and who is otherwise eligible for a student loan guaranteed under the Student Loan Guarantee Act. A standard of academic performance higher than the minimum required for continuing enrollment in the participating institution shall not be required, and [but] the student must be meeting the minimum academic requirements of the participating institution at the time any loan is made; C. 'fiscal agent' means the chief financial officer of one of the state higher educational institutions designated by the board; D. 'loans' means loans made by the fiscal agent to residents of this state under Title IV, Part B, of the federal Higher Education Act of 1965, as amended; E. 'participating institution' means any post-high school educational institution within or without the state, public or private including junior colleges and vocational

tion Act of 1965, as amended; E. 'participating institution' means any post-high school educational institution within or without the state, public or private including junior colleges and vocational schools, which qualifies as an eligible institution for the federal guaranteed-loan program under the federal Higher Education Act of 1965, as amended, and which is approved by the board for the purposes of the Student Loan Guarantee Act; and F. 'resident' means a person who has established legal residency in New Mexico as defined by the board. History: 1978 Comp., § 21-21-16, enacted by Laws 1978, ch. 110, § 3. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. For designation of the commission on higher education as the higher education department, see 9-25-4.1 NMSA 1978. Cross references. — For the federal Higher Education Act of 1965, see 20 U.S.C. § 1001 et seq.