As used in the Student Loan Act:

A. "participating institution" means any post-high school educational institution within 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 Higher Education Act of 1965, as amended, and participating in student loan programs under the Student Loan Act, or any educational institution not within the state attended by a qualified student for the purpose of participating in the student exchange programs administered by the western interstate commission for higher education as provided for by the Western Regional Education Compact [11-10-1 NMSA 1978];

B. "qualified 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 by the United States. A standard of academic performance higher than the minimum required for continuing enrollment in the participating institution shall not be required, and the student must be meeting the minimum academic requirements of the participating institution at the time any loan is made; and

C. "fiscal agent" means the chief financial officer of one of the state higher educational institutions designated by the board of educational finance [commission on higher education [higher education department]].

History: 1953 Comp., § 73-38-2, enacted by Laws 1970, ch. 82, § 2; 1973, ch. 174, § 1.

Bracketed 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.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Colleges and Universities § 17; 63A Am. Jur. 2d Public Officers and Employees § 351.

14A C.J.S. Colleges and Universities § 29; 81A States § 134.