by our College Data Analytics TeamMany students will never be charged the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The total price of attendance at Central New Mexico Community College can feel tremendous, but do not forget that almost all students receive some sort of financial help.
Just what financing solutions does CNM provide, and just what are you going to be eligible for? Keep scrolling for answers. Read on to learn just how much financial aid will be open to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. The information provided on this page can help you determine how much aid you may receive from Central New Mexico Community College.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Bear in mind that not all aid is equal, and the amount any one student receives can vary widely.
Looking at the entering class at Central New Mexico Community College, 92% of first-time, full-time freshmen received some form of financial aid approximately 1196 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 90% | $5,760 |
| Institutional grants & scholarships | 15% | $446 |
| Federal Pell grants | 58% | $6,019 |
| State/local grants | 76% | $2,051 |
| Federal student loans | 40% | $5,635 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. At this school, about 43% of undergraduate students received gift aid averaging $5,288 (covering around 8184 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 43% | $5,288 |
| Federal Pell grants | 27% | $5,856 |
| Federal student loans | 16% | $6,487 |
For on-campus title-IV students, average grant aid came to $6,979.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $2,497 |
| $30,001 – $75,000 | $4,076 |
| Over $75,000 | $7,411 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
Net price is the average annual cost after grants and scholarships are subtracted from the published cost of attendance — the figure closest to what a typical aid-receiving student actually pays.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $4,621 |
| Off-campus title-IV students | $3,454 |
To get a personalized net price estimate, try CNM’s net price calculator: www.cnm.edu/ext/financial-aid-calculator/npcalc.htm.
A typical borrower at CNM leaves with $4,500 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $4,500 |
| Median federal debt (graduates only) | $6,612 |
| Typical 10-year monthly payment (graduates) | $70.1/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
The numbers below show the full range, not just the middle of the distribution. The figures below chart the debt distribution at CNM.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,167 |
| 25th percentile | $2,134 |
| 75th percentile | $9,584 |
| 90th percentile (highest-debt students) | $19,066 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $5,278 |
| Middle income | $3,895 |
| High income | $3,134 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $4,500 |
| Continuing-generation students | $4,273 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,500 |
| Independent students | $5,834 |
The figure below distills the debt data into a single burden category for CNM.
The Stafford program is the federal direct-loan vehicle most undergraduates use. The annual Stafford volume below reflects program activity at CNM:
| Metric | Value |
|---|---|
| Stafford loan recipients | 36446 |
| Total Stafford loan amount | $452,488,617 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 301 |
| Total GI Bill amount | $462,285 |
| Average GI Bill amount per recipient | $1,536 |
DoD Tuition Assistance activity
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 42 |
| Total DoD amount | $31,676 |
| Average DoD amount per recipient | $754 |
References
More about our data sources and methodologies.