The most recent data indicates that in-state tuition at Northern New Mexico College rose by 2.3% for the 2022-23 academic year, according to the latest disclosure from the National Center for Education Statistics.
New Mexico residents enrolled at the four-year public institution paid $5,064 this year, an increase of $112 from the $4,952 charged during the 2021-22 academic year.
Non-resident students faced tuition costs 183% higher than those for residents in the 2022-23 academic year, amounting to $14,329. This represents a 4.8% increase from $13,676 in the previous year.
Approximately 94% of the undergraduate student body at the college are New Mexico residents, with about 1% coming from other states and another 1% classified as international students.
Data reveals that all full-time undergraduates who began studies at Northern New Mexico College in 2022-23 received some form of financial aid. Among them, 115 students were awarded grants or scholarships totaling $1.2 million, while five students took out loans exceeding $13,857.
Across the entire undergraduate population, 750 students benefited from grants or scholarships amounting to $5.8 million. Additionally, 38 students borrowed $203,826 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 | 81 | 70% | $445,936 | $5,505 |
| State / local grant or scholarship | 115 | 100% | $702,556 | $6,109 |
| Institutional grants or scholarships | 31 | 27% | $21,000 | $677 |
| Grant or scholarship aid total | 115 | 100% | $1.2 million | $10,169 |
| Federal student loans | 5 | 4% | $13,857 | $2,771 |
| Other student loans | 0 | 0% | $0 | $0 |
| Student loan aid | 5 | 4% | $13,857 | $2,771 |
| Total student aid | 115 | 100% | $1.2 million | $10,289 |
