Tuition for in-state students at New Mexico Junior College did not change during the 2022-23 school year, as reported in the latest figures, according to the latest disclosure from the National Center for Education Statistics.
New Mexico residents paid $1,920 to attend the public two-year college in both the 2021-22 and 2022-23 academic years.
Non-resident students were charged 18.8% more than in-state students in 2022-23, amounting to $2,280. This rate remained the same as in the previous year.
Approximately 91% of the undergraduate student body at the college are New Mexico residents, while about 8% come from other states and 1% are international students.
Data indicates that 72% of full-time undergraduates who began studies at New Mexico Junior College in 2022-23 received some form of financial aid. A total of 375 students were awarded grants or scholarships totaling $1 million, and 22 students took out loans exceeding $73,000.
Across all undergraduate students, 1,037 individuals received grants or scholarships amounting to $2.5 million. Additionally, 68 students borrowed a combined total of $202,688 in federal student loans.
Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.
According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.
Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.
Available data sometimes exceeds 100% due to rounding and administrative calculations.
| Type of Aid | Number of students awarded aid | Percent awarded aid | Total amount of aid awarded | Average amount of aid per student |
|---|---|---|---|---|
| Federal grants | 203 | 39% | $572,185 | $2,819 |
| State / local grant or scholarship | 254 | 48% | $226,805 | $893 |
| Institutional grants or scholarships | 121 | 23% | $236,057 | $1,951 |
| Grant or scholarship aid total | 375 | 72% | $1 million | $2,760 |
| Federal student loans | 21 | 4% | $65,538 | $3,121 |
| Other student loans | 0 | 0% | $0 | $0 |
| Student loan aid | 22 | 4% | $73,038 | $3,320 |
| Total student aid | 376 | 72% | $1.1 million | $2,947 |
