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Cost & financial aid brief

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# New Mexico Institute of Mining and Technology Tuition, Costs & Financial Aid

Updated October 1, 2026

[Overview](/school/new-mexico-institute-of-mining-and-technology/)Cost & aid[Outcomes](/school/new-mexico-institute-of-mining-and-technology/outcomes/)[Admissions](/school/new-mexico-institute-of-mining-and-technology/admissions/)[Majors](/school/new-mexico-institute-of-mining-and-technology/majors/)[Similar schools](/school/new-mexico-institute-of-mining-and-technology/similar/)

**On this page**+

## How much does New Mexico Institute of Mining and Technology cost after financial aid?

Aid recipients at New Mexico Institute of Mining and Technology pay an average [net price](/analysis/is-college-worth-it-part-1-the-net-price-illusion/)—what students pay after grants and scholarships—of $9,873. That figure sits $2,949 below the $12,822 median at comparable institutions (same type and size).

On average, aid cuts the sticker price by $15,094, covering about 60% of the published cost of attendance for a typical recipient. The full sticker price is $24,967.

Resident undergraduates are charged tuition and fees of $9,476, with room and board set at $10,350. Students from outside the state pay tuition and fees of $27,247.

Azimuth ranks the university #120 for affordability among nonprofit four-year institutions. That places the affordability pillar in the 92nd percentile.

At New Mexico Institute of Mining and Technology, both the average [net price](/analysis/is-college-worth-it-part-1-the-net-price-illusion/) and the median debt sit below what comparable institutions show. Azimuth places the affordability pillar in the 92nd percentile among nonprofit four-year institutions.

The average net price is $9,873, $2,949 below the peer median of $12,822 for comparable institutions (same type and size). Borrowers who finish owe a median of $19,085 in federal loans, $415 below the peer median of $19,500.

Aid recipients in the lowest income band average $5,136, and those in the highest band average $13,464.

Average [net price](/analysis/is-college-worth-it-part-1-the-net-price-illusion/)s are $5,136 for families earning under $30,000 and $13,464 for those earning over $110,000. The bands in between average $7,640, $10,106, and $14,753.

29.5% of undergraduates receive Pell Grants, providing context for the lowest band. The spread between the lowest and highest bands is $8,328.

Average net price by family income

**$0–30K**
$5,136

**$30–48K**
$7,640

**$48–75K**
$10,106

**$75–110K**
$14,753

**$110K+**
$13,464

Averages within each income band; individual aid packages vary.

Overall average annual net price: **$9,873**. After grants and scholarships, including living costs. [Source and coverage](#cost-data-notes).

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](/analysis/is-college-worth-it-part-1-the-net-price-illusion/) 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](/analysis/is-college-worth-it-part-1-the-net-price-illusion/) 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](/analysis/ou-what-happens-when-parents-borrow-too/) 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 the model 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](/analysis/ou-what-happens-when-parents-borrow-too/) 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](#combined-borrowing) are in the Financial GPS card below. [Borrowing populations and model assumptions](#cost-data-notes).

## Parent loans: what can the family afford?

[How Parent PLUS borrowing affects families](/analysis/ou-what-happens-when-parents-borrow-too/)

**Median Parent PLUS debt**
$17,000

**Estimated parent payment**
$216/mo

Modeled Parent PLUS pressure by income

| 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](#cost-data-notes).

## 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

1.  Excellent Under 8% · selected scenario
2.  Good 8–under 12%
3.  Concerning 12–20%
4.  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.

[Read the framework and its limits](/analysis/financial-gps-framework/).

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.

[Explore your own numbers in Financial GPS](/financial-gps/?tool=student&school=new-mexico-institute-of-mining-and-technology#student-tool)

## Data & methodology

Sources and reporting periods: [methodology](/methodology/).

Analysis and methodology by [Daniel Rogers](/about/#founder), 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](/about/).

**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](https://collegescorecard.ed.gov/data/).

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.