Scholarships, Grants, and Loan Trends at New Mexico Tech

14%

Received Percent Changed

$5,985

Received Amount Changes

Over the past 10 years (2015-2023), the average number of students who received grants aid/scholarships is 1,089, which is 77.56 % of all undergraduate students. 628 students which is 44.00% of undergraduate students received federal student loans and the average loan amount is $6,254.

For full-time, first-time beginning students (freshmen), 95.00% of students received grants or scholarships and 52% of students received student loans.

All Undergraduate Students Financial Aid Over Time

The following table shows the trends of financial aid for all undergraduate students at New Mexico Institute of Mining and Technology since 2014.

For that period, the average number of students who received grants aid/scholarships is 1,089, which is 77.56 % of all undergraduate students. 628 students which is 44.00% of undergraduate students received federal student loans and the average loan amount is $6,254.

YearGrant or Scholarship*Pell GrantsFederal Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-151,188 (73%)$6,791493 (30%)$4,327694 (42%)$6,262
2015-161,181 (73%)$6,890468 (29%)$4,337751 (46%)$6,332
2016-171,151 (73%)$7,126467 (30%)$4,424741 (47%)$6,659
2017-181,058 (72%)$6,627442 (30%)$4,705694 (47%)$6,712
2018-191,060 (75%)$7,386449 (32%)$4,647678 (48%)$6,423
2019-201,032 (78%)$7,889439 (33%)$4,872613 (46%)$6,538
2020-211,037 (84%)$8,442406 (33%)$5,034557 (45%)$6,191
2021-221,034 (83%)$10,530404 (32%)$5,209500 (40%)$5,658
2022-231,060 (87%)$12,776376 (31%)$5,159428 (35%)$5,508
Average1,089 (77.56%)$8,273438 (31.11%)$4,746628 (44.00%)$6,254
*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

For the last 10 years, on average, 273 (95.00 % of students) received grants or scholarships and its average amount is $8,260. It can cover 30.31% of tuition & fees ($27,247) based on out-of-state rate.

In addition, 148 (51.56 % of students) students get helped from the students loans (average amount : $5,241).

Year Grants or Scholarships*Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-15257 (90%)$6,817138 (48%)$4,987
2015-16304 (90%)$6,628187 (55%)$4,844
2016-17279 (93%)$6,883170 (56%)$5,355
2017-18226 (95%)$6,673147 (62%)$5,099
2018-19292 (96%)$7,131183 (60%)$6,026
2019-20243 (97%)$8,026139 (56%)$5,688
2020-21268 (96%)$8,378130 (47%)$5,310
2021-22292 (99%)$10,293125 (42%)$4,925
2022-23295 (99%)$13,507113 (38%)$4,939
Average273 (95.00%)$8,260148 (51.56%)$5,241
*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. For the last 10 years, on average, 92 (31.89 % of students) received Pell (federal) grants and its average amount is $4,731.

In addition, 231 students received State/local government grants/scholarships (80.11 % of students).

Year Federal (Pell) GrantsOther Federal State/Local governmentInstitutional
Number Received (percent)Average AmountNumber Received (percent)Average Amount Number Received (percent)Average AmountNumber Received (percent)Average Amount
2014-1583 (29%)$4,36320 (7%)$1,764215 (75%)$3,325212 (74%)$3,018
2015-16103 (30%)$4,18925 (7%)$2,159246 (73%)$2,980242 (72%)$3,291
2016-1788 (29%)$4,42128 (9%)$1,744238 (79%)$3,080224 (74%)$3,346
2017-1875 (32%)$4,60128 (12%)$1,483189 (79%)$2,699191 (80%)$3,201
2018-19104 (34%)$4,67133 (11%)$1,528240 (79%)$3,042244 (80%)$3,344
2019-2079 (32%)$5,18191 (36%)$1,410211 (84%)$3,394189 (76%)$3,686
2020-2195 (34%)$4,83383 (30%)$1,205229 (82%)$3,408237 (85%)$3,821
2021-2299 (33%)$5,02768 (23%)$804241 (81%)$4,764270 (91%)$4,833
2022-23101 (34%)$5,29569 (23%)$2,227267 (89%)$8,247254 (85%)$4,307
Average92 (31.89%)$4,73149 (17.56%)$1,592231 (80.11%)$3,882229 (79.67%)$3,650
*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 describes number of students and average amount of loans by loan type. The following table shows the trends of grants or scholarships over time.

For the last 10 years, on average, 148 (51.56 % of students) get any students loan help and its average loan amount is $148.

YearTotalFederal student loansOther student loans
Number Received (percent)Average AmountNumber Received (percent)Average AmountNumber Received (percent)Average Amount
2014-15138 (48%)$4,987133 (47%)$4,8345 (2%)$9,040
2015-16187 (55%)$4,844177 (52%)$4,80510 (3%)$5,544
2016-17170 (56%)$5,355170 (56%)$5,1745 (2%)$6,172
2017-18147 (62%)$5,099142 (60%)$5,1055 (2%)$4,928
2018-19183 (60%)$6,026183 (60%)$5,2628 (3%)$17,482
2019-20139 (56%)$5,688137 (55%)$5,3097 (3%)$9,047
2020-21130 (47%)$5,310128 (46%)$4,9056 (2%)$10,415
2021-22125 (42%)$4,925122 (41%)$4,6055 (2%)$10,754
2022-23113 (38%)$4,939111 (37%)$4,6275 (2%)$8,900
Average148 (51.56%)$5,241145 (50.44%)$4,9586 (2.33%)$9,142

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