Students attending next fall semester on the Millennium Scholarship can expect to receive about one-third less money, according to Nevada's chief deputy treasurer.
Mark Winebarger said the summer semester scholarships will be paid in full. But he said in the fall, there will probably be enough money to cover just 65 percent of the full authorized amount.
University students now capped at $960 a semester will be eligible for just $624. Community college students eligible for up to $360 a semester will get a maximum of $234.
At UNR, the projected per credit cost of classes for this coming fall is $142.75; the value of the scholarship would cover just four credits worth of classes.
At Western Nevada College, the $234 per semester would cover just under four credits of lower-division classes - at $63 per credit.
Winebarger emphasized that the 65 percent number is a projection based on current statutes, policies and attendance projections.
Lawmakers on Thursday questioned the growing shortfall in the Millennium Scholarship program and were told the biggest immediate change was caused when tobacco settlement money came in about 10 percent less than expected in April. They also were told the program has suffered from legislative actions to divert some $32 million in funds originally budgeted for the scholarship to help cover the state's budget shortfall during the past two years.
Senate Majority Leader Steven Horsford, D-Las Vegas, said after the Interim Finance Committee meeting he was planning a special session of IFC within a few weeks to "shore up" the scholarship program and keep promises the state made to students and parents relying on the Millennium Scholarship money.