Dr. Ryan Tipton, President, Chief Executive Officer | University of the Southwest
Dr. Ryan Tipton, President, Chief Executive Officer | University of the Southwest
Data shows that students paid $4,116 on average to attend higher education courses at the time, $142 more than the previous school year.
Among the two institutions in the county, the University of the Southwest stood out with the highest tuition fees, reaching an average of $17,200. New Mexico Junior College followed with an average of $1,949 per year.
At the time, a total of $2.7 million in grants or scholarships were awarded to full-time undergraduates who started at the Lea County universities in the 2022-23 school year. Additionally, federal student loans reached $788,913.
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.
| Institution | Number of Students Receiving Grants | Total Amount of Grants Received | Average Amount of Grant Per Student | Number of Students Receiving Loans | Total Amount of Loans Received | Average Amount of Loans Per Student |
|---|---|---|---|---|---|---|
| New Mexico Junior College | 375 | $1,035,047 | $2,760 | 22 | $73,038 | $3,320 |
| University of the Southwest | 175 | $1,712,540 | $9,786 | 113 | $715,875 | $6,335 |
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