Tuition rates for in-state students at the New Mexico Military Institute remained steady during the 2022-23 school year, as revealed by the latest report, according to the latest disclosure from the National Center for Education Statistics.
Residents of New Mexico paid $6,965 to attend the two-year public college in both the 2021-22 and 2022-23 academic years.
Non-resident students faced tuition costs 101.2% higher than those of residents in 2022-23, amounting to $14,017. This figure remained unchanged from the previous academic year.
Approximately 24% of the undergraduate student body at the institute are New Mexico residents, while about 55% come from other states, and 20% are international students.
Data indicates that 95% of full-time undergraduates who enrolled at the New Mexico Military Institute in 2022-23 received some form of financial aid. A total of 183 students were awarded grants or scholarships amounting to $2 million, and 16 students borrowed over $59,755 in student loans.
Among all undergraduates, 330 students benefited from grants or scholarships totaling $3.8 million. Additionally, 23 students took out federal student loans totaling $97,151.
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 | 63 | 33% | $341,009 | $5,413 |
| State / local grant or scholarship | 36 | 19% | $128,054 | $3,557 |
| Institutional grants or scholarships | 174 | 91% | $1.5 million | $8,643 |
| Grant or scholarship aid total | 183 | 95% | $2 million | $10,781 |
| Federal student loans | 16 | 8% | $59,755 | $3,735 |
| Other student loans | 0 | 0% | $0 | $0 |
| Student loan aid | 16 | 8% | $59,755 | $3,735 |
| Total student aid | 183 | 95% | $2 million | $11,107 |
