{"data":{"id":"us-nm/21-21-16","jurisdiction":"us-nm","citation":"21-21-16","heading":"Definitions.","body":"As used in the Student Loan Guarantee Act [21-21-14 to 21-21-24 NMSA 1978]:\nA. \"board\" [\"commission\" [\"department\"] means the board of educational finance [commission on higher education [higher education department]];\nB. \"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;\nC. \"fiscal agent\" means the chief financial officer of one of the state higher educational institutions designated by the board;\nD. \"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;\nE. \"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\nF. \"resident\" means a person who has established legal residency in New Mexico as defined by the board.","path":["Chapter 21 - State and Private Education Institutions","ARTICLE 21 Student Loans"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18521/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"54c587b4676aaeecbec1a3896e160fcf62a7bc2126750bb1758332ddfacba32c","source_id":"us-nm","stale":false,"prev":"us-nm/21-21-15","next":"us-nm/21-21-17"},"notice":"GroundRules: Original legal text. Not legal advice."}