Revenue gap hampers New Mexico lotto scholarship program

ALBUQUERQUE, N.M. (AP) — New Mexico is no closer to finding a more permanent solution to solvency problems with a vital program that provides college scholarships for tens of thousands of students through lottery revenues. The Legislature wrapped up its regular session more than a week ago without passing any measures that would affect the program's long-term bottom line. Some have warned that the scholarships might only pay 70 percent of tuition starting next fall, but state officials are still crunching numbers. For years now, tuition and demand for the financial aid have outpaced revenues from lottery sales. There were measures on the table that including rolling unclaimed prize money over to the scholarship fund and setting the award at a certain amount rather than a percentage of tuition. Liquor excise revenues that recently helped float the program are being phased out.