In 1989, the UNM Board of Regents established The University of New Mexico Regents’ Scholars Scholarship Program which provides tuition and fees, room and board, and books to fifteen freshman students selected from among the following groups: National Merit Finalists/National Achievement/National Hispanic; valedictorians; ACT composite score of 31 or higher (or SAT equivalents); students with the strongest college preparatory course work, including advanced, enriched, and advanced placement courses; and a minimum sixth-semester grade point average of 3.9 or higher. The award is renewable for three years if the student meets specific renewal criteria each year.