Financial Aid Trends for New Mexico Colleges

No Change

Received Percent Changed

$5,078

Received Amount Changes

For the academic year 2023-2024, 71% of students received grants and/or scholarships and its average aid amount is $12,367.

Compared to the percent of received 10 years ago, similar percent of students received the financial aid. The average financial aid amount has increased from $7,559 to $12,637 at New Mexico Colleges.

All Undergraduate Students Financial Aid Over Time

The following table and chart show the trends of financial aid for all undergraduate students at New Mexico Colleges since 2014. For that period, the average number of students who received grants aid/scholarships is 36,661, which is 75.33 % of all undergraduate students.

17,115 students which is 46.44% of undergraduate students received federal student loans and the average loan amount: $6,802.

YearGrant or Scholarship*Pell GrantsFederal Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-1540,359 (74%)$7,55924,525 (53%)$3,69224,385 (55%)$6,604
2015-1638,003 (74%)$8,38122,410 (52%)$3,77319,792 (51%)$6,489
2016-1741,610 (80%)$8,01921,359 (55%)$3,73718,953 (56%)$6,967
2017-1838,096 (77%)$8,33319,469 (52%)$4,14318,537 (48%)$7,181
2018-1936,286 (75%)$8,78818,689 (51%)$4,23414,570 (47%)$6,987
2019-2035,848 (73%)$8,92717,931 (43%)$4,77016,000 (42%)$6,748
2020-2134,576 (77%)$9,31616,802 (42%)$4,72715,088 (42%)$7,251
2021-2232,484 (74%)$9,87015,301 (39%)$4,79714,351 (43%)$6,777
2022-2332,690 (74%)$12,63715,639 (39%)$5,13512,359 (34%)$6,211
Average36,661 (75.33%)$9,09219,125 (47.33%)$4,33417,115 (46.44%)$6,802
*Grant or scholarship aid includes aid received, from the federal government, state or local government, the institution, and other sources known by the institution.
**percentage of number of students receiving aids among all undergraduate students.

Freshmen (First-time, Full-time Undergraduate) Financial Aid Over Time

Over the past 10 years, on average, 6,906 (91.44 % of students) received grants or scholarships and its average amount is $9,382. It can cover 58.60% of tuition & fees ($16,010) based on out-of-state rate. In addition, 2,970 (48.78 % of students) students get helped from the students loans (average amount : $5,872).

Year Grants or Scholarships*Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-157,256 (88%)$7,7003,923 (59%)$6,182
2015-167,415 (88%)$9,3373,161 (53%)$5,515
2016-177,331 (93%)$9,0452,975 (59%)$6,215
2017-187,189 (92%)$9,5923,442 (51%)$6,274
2018-196,694 (94%)$9,6472,668 (56%)$6,293
2019-206,389 (90%)$8,9673,156 (43%)$5,772
2020-216,292 (90%)$9,1412,785 (41%)$6,001
2021-226,213 (93%)$9,7022,863 (43%)$5,165
2022-237,372 (95%)$11,3081,761 (34%)$5,433
Average6,906 (91.44%)$9,3822,970 (48.78%)$5,872
*Grant or scholarship aid includes aid received, from the federal government, state or local government, the institution, and other sources known by the institution.
**Percentage of number of students receiving aids among all undergraduate students.

The following table shows the trends of grants or scholarships over time. Over the past 10 years, on average, 3,435 (58.00 % of students) received Pell (federal) grants and its average amount is $4,679. In addition, 4,627 students received State/local government grants/scholarships (49.56 % of students).

YearFederal (Pell) GrantsOther Federal State/Local governmentInstitutional
Number Received (percent)Average AmountNumber Received (percent)Average Amount Number Received (percent)Average AmountNumber Received (percent)Average Amount
2014-153,768 (63%)$4,173792 (24%)$9214,907 (57%)$4,3793,542 (51%)$5,398
2015-163,813 (62%)$4,237878 (22%)$1,1535,001 (52%)$4,4744,927 (64%)$5,739
2016-173,646 (61%)$4,4401,039 (25%)$1,0565,024 (39%)$3,1145,040 (62%)$6,167
2017-183,608 (62%)$4,5511,244 (18%)$1,0335,040 (48%)$2,9275,087 (63%)$6,663
2018-193,552 (64%)$4,773956 (19%)$9694,318 (45%)$2,8024,978 (56%)$6,447
2019-203,187 (55%)$4,7501,055 (25%)$8424,269 (55%)$3,1584,565 (56%)$5,085
2020-212,983 (50%)$5,0611,644 (43%)$1,3783,654 (47%)$3,1475,043 (58%)$5,117
2021-222,932 (52%)$4,9393,342 (39%)$1,2803,773 (43%)$3,8365,123 (68%)$5,745
2022-233,428 (53%)$5,188837 (18%)$1,1805,653 (60%)$5,1255,364 (71%)$5,742
Average3,435 (58.00%)$4,6791,310 (25.89%)$1,0904,627 (49.56%)$3,6624,852 (61.00%)$5,789

The following table describes number of students and average amount of loans by loan type. The following table shows the trends of grants or scholarships over time. Over the past 10 years, on average, 2,970 (48.78 % of students) get any students loan help and its average loan amount is $2,970.

YearTotalFederal student loansOther student loans
Number Received (percent)Average AmountNumber Received (percent)Average AmountNumber Received (percent)Average Amount
2014-153,923 (59%)$6,1823,887 (62%)$5,668157 (3%)$9,074
2015-163,161 (53%)$5,5153,098 (56%)$5,182159 (3%)$10,788
2016-172,975 (59%)$6,2152,930 (56%)$5,909175 (6%)$8,773
2017-183,442 (51%)$6,2743,394 (50%)$5,888163 (5%)$8,247
2018-192,668 (56%)$6,2932,625 (56%)$5,841171 (3%)$11,808
2019-203,156 (43%)$5,7723,116 (46%)$4,723204 (3%)$8,761
2020-212,785 (41%)$6,0012,751 (40%)$5,507208 (5%)$10,266
2021-222,863 (43%)$5,1652,837 (43%)$4,724149 (2%)$11,807
2022-231,761 (34%)$5,4331,721 (33%)$4,850144 (3%)$10,311
Average2,970 (48.78%)$5,8722,929 (49.11%)$5,366170 (3.67%)$9,982