New Mexico Institute of Mining and Technology's published cost of attendance is $22,872 per year, including $9,058 in-state tuition, $9,614 for room and board, and $800 for books and supplies. Out-of-state students face higher tuition of $26,312, bringing their total cost to $36,726.
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Net prices are averages and may vary. Based on federal data for first-time, full-time students receiving aid.
| Cost Category | Amount |
|---|---|
| Total Cost of Attendance (Sticker Price) | $24,967 |
| Tuition and Fees | $27,247 |
| Room and Board | $10,350 |
| Books and Supplies | $800 |
| Average Financial Aid (Grants and Scholarships) | -$15,094 |
| Average Net Price (What Families Pay) | $9,873 |
| Family Income | Net Price |
|---|---|
| $0–30k | $5,136 |
| $30–48k | $7,640 |
| $48–75k | $10,106 |
| $75–110k | $14,753 |
| $110k+ | $13,464 |
New Mexico Institute of Mining and Technology's published cost of attendance is $22,872 per year, including $9,058 in-state tuition, $9,614 for room and board, and $800 for books and supplies. Out-of-state students face higher tuition of $26,312, bringing their total cost to $36,726. However, the average student pays just $8,265 after financial aid, representing savings of $14,607 compared to the sticker price.
This net price of $8,265 compares favorably to the peer median of $13,302, saving students $5,037 annually relative to similar institutions. The substantial gap between published costs and actual net price indicates robust financial aid packaging that makes the institution accessible despite its specialized engineering focus. Net prices vary significantly by income level, ranging from $3,970 for families earning under $30,000 to $12,207 for families earning over $110,000.
How much students borrow and whether debt is manageable given outcomes.
Debt is well below typical first-year earnings — generally considered very manageable.
Student debt outcomes at New Mexico Institute of Mining and Technology remain highly manageable relative to earnings potential and peer institutions. Median debt of $19,085 falls $2,415 below the peer median of $21,500, indicating effective cost control and aid packaging.
Debt levels range from $5,500 at the 25th percentile to $23,504 at the 75th percentile, showing moderate variation in borrowing patterns among graduates. The debt-to-earnings ratio of 0.25 indicates that typical graduates can expect debt payments to consume roughly one-quarter of their first-year earnings, which represents manageable repayment burden.
Parent PLUS borrowing averages $11,000 with monthly payments of $145, representing additional family financial commitment but at manageable levels. The combination of below-peer debt levels and above-peer earnings creates favorable conditions for post-graduation financial stability.
How cost compares to graduate earnings and value added.
New Mexico Institute of Mining and Technology delivers exceptional return on educational investment through the combination of controlled costs and strong earnings outcomes. Graduates earn $5,640 beyond expectations relative to similar students, ranking at the 75.7th percentile nationally and demonstrating well above average value creation.
The median debt of $19,085 paired with median earnings of $76,489 creates a highly favorable debt-to-earnings ratio of 0.25, indicating sustainable repayment prospects. Compared to peer institutions, graduates earn $29,815 more annually while borrowing $2,415 less, creating a powerful combination for long-term financial success.
The institution's 96.1st percentile ranking for return on investment reflects this combination of controlled costs and strong outcomes. Net price savings of $5,037 compared to peer median further enhance the value proposition, making specialized engineering education accessible while maintaining outcome quality.
New Mexico Institute of Mining and Technology's financial aid strategy effectively reduces costs for students across income levels, with aid savings averaging $14,607 per student. The substantial difference between the $22,872 sticker price and $8,265 average net price demonstrates comprehensive aid packaging that combines federal grants, state aid, and institutional support.
The institution's 30.9% Pell share aligns with national averages, indicating balanced enrollment of lower-income students who benefit most from federal grant aid. Net price variations by income suggest that aid formulas appropriately target the neediest students while maintaining affordability for middle-income families.
The $5,037 savings compared to peer median net price indicates that New Mexico Tech either offers more generous institutional aid or benefits from favorable state funding that keeps costs below comparable institutions. This aid effectiveness supports the institution's role in providing accessible technical education while maintaining the quality standards necessary for strong post-graduation outcomes.
