Cost & financial aid brief
New Mexico Institute of Mining and Technology Tuition, Costs & Financial Aid
How much does New Mexico Institute of Mining and Technology cost after financial aid?
The average aid recipient at New Mexico Institute of Mining and Technology sees about 60% of the published cost covered by aid. That is a reduction of $15,094 from the sticker price.
The average net price steps up through the middle income bands, then dips at the highest band. The lowest-income band averages $5,136, while the highest band averages $13,464.
The spread between the two ends is $8,328. The middle bands fill in the steps: families earning $30,001 to $48,000 average $7,640, those earning $48,001 to $75,000 average $10,106, and those earning $75,001 to $110,000 average $14,753. The highest band actually pays slightly less than the one below it.
The published cost of attendance at New Mexico Institute of Mining and Technology is $24,967. Azimuth ranks the university #120 for affordability among nonprofit four-year institutions.
After grants and scholarships, aid recipients from families earning under $30,000 average $5,136, those in the middle band ($48,001–$75,000) average $10,106, and those earning over $110,000 average $13,464. The spread between the lowest and highest bands is $8,328.
Aid covers about 60% of the published cost for the average aid recipient. The average net price across all aid recipients is $9,873, which is $2,949 below the median of $12,822 for comparable institutions (same type and size).
Borrowers who finish carry a median of $19,085 in federal student loans. That is $415 below the peer median of $19,500.
73.0% of federal aid recipients take federal loans. Parents who borrow hold a separate median of $17,000.
If repaid over ten years, the median federal debt corresponds to an estimated payment of $217 a month.
Student loans: what does repayment look like?
Among undergraduates at New Mexico Institute of Mining and Technology, 73.0% of federal aid recipients take federal loans. For borrowers who complete, the median federal student debt is $19,085.
That median sits $415 below the $19,500 median for comparable institutions (same type and size). Parents who borrow are a separate population, with median Parent PLUS borrowing of $17,000.
Four years after completing a degree, graduates of New Mexico Institute of Mining and Technology earn a median of $85,232. That is $32,116 above the $53,116 median for comparable institutions (same type and size), placing the university at the 92nd percentile among nonprofit four-year institutions.
Graduates also earn about $14,464 more than expects for similar students, a result that sits at the 91st percentile. Earnings scenarios, estimated from the program mix, show a downside of $57,048 and an upside reaching $110,641.
Borrowers who finish leave with a median of $19,085 in federal student loans, $415 below the median for comparable institutions ($19,500). If repaid over ten years, that debt corresponds to an estimated payment of $217 a month.
For the separate population of parent borrowers, median Parent PLUS borrowing is $17,000. For student borrowers, the median federal debt corresponds to an estimated payment of $217 a month if repaid over ten years.
Repayment figures are in the Financial GPS card below. Borrowing populations and model assumptions.
Parent loans: what can the family afford?
How Parent PLUS borrowing affects families
- Median Parent PLUS debt
- $17,000
- Estimated parent payment
- $216/mo
| Income | Risk level |
|---|---|
| $35,000 | High pressure |
| $50,000 | High pressure |
| $75,000 | High pressure |
| $100,000 | Safe |
| $150,000 | Safe |
| $200,000 | Safe |
The model holds the parent balance fixed and varies parent income. Read the assumptions and limits.
Student and parent loans: the monthly payments
Financial GPS
What does repayment look like?
- Institution median student debt
- $19,085
- Institution Parent PLUS debt
- $17,000
Federal loans only; private or institutional loans aren’t included.
- Estimated student payment · monthly
- $217/mo
- Estimated Parent PLUS payment · monthly
- $216/mo
- Modeled student + parent payments
- $433/mo
Payments use school-wide median balances, not a specific major’s.
Student payment as a share of available income
At median graduate earnings of $85,232, with a $22,590 annual allowance for basic expenses:
4.2% of income above the allowance · Excellent
- Excellent Under 8% · selected scenario
- Good 8–under 12%
- Concerning 12–20%
- High risk Over 20%
How this estimate works
These are modeled earnings scenarios, not observed earnings percentiles. Annual student payments ÷ (earnings − basic-expense allowance). The starting allowance, $22,590, uses the published framework’s 2024 baseline; it is not a current local living-cost estimate. Change it for your budget, including taxes and other obligations. This combines school-level figures for illustration, not a typical individual’s budget or an official school rating. Parent PLUS is separate.
Payment assumptions
Payments are 10-year standard payments on the median balance, before loan fees, used as a yardstick. Rates for newly issued loans may differ, and loans made after July 1, 2026 can repay over a longer term; existing loans keep their original fixed rates.
Data & methodology
Sources and reporting periods: methodology.
Analysis and methodology by Daniel Rogers, founder of College Azimuth.
Explanatory text is AI-assisted drafting checked against those figures; it is not an additional data source.
Figure notes link to sources and limitations. About College Azimuth.
Net price and borrowing. The 2023–24 income-band averages include living costs and cover eligible first-time, full-time aid recipients; public-school figures reflect in-state tuition. They are not individual aid offers. Peer matching supplies overall net prices, not matched income-band averages. College Scorecard data and documentation.
A personal student-risk assessment also needs your major and borrowing plan; these school-level illustrations do not assign you a personal risk zone.
Payments are 10-year standard payments on the median balance, before loan fees, used as a yardstick. Rates for newly issued loans may differ, and loans made after July 1, 2026 can repay over a longer term; existing loans keep their original fixed rates. Private-loan figures from the Common Data Set are separate from these federal repayment illustrations.