by our College Data Analytics TeamThis page focuses on the debt students take on to attend New Mexico Institute of Mining and Technology: median debt, the percentile spread, total borrowing including PLUS loans, and the cost to repay. All figures come from the U.S. Department of Education and IPEDS.
Among first-year students at New Mexico Tech, 35% of incoming undergraduates borrow in year one, averaging $4,366 apiece. This figure includes both private and federally funded student loans.
On the federal side, the average loan is $4,358, amounting to 79.2% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
Across the full undergraduate body at New Mexico Tech (freshmen included), 34% take out federal student loans, averaging $5,502 each per year. That is 26.3% higher than the first-year federal average of $4,358.
Repeating that yearly amount projects to about $11,004 across two years and $22,008 after four. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 34% |
| Average federal loan per year | $5,502 |
| Undergraduates with a federal loan | 380 |
| Total federal loans (one year) | $2,090,660 |
The median student at New Mexico Tech borrows $11,057 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $11,057 |
| Students who completed (graduates) | $19,085 |
| Students who withdrew | $5,560 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Half of all borrowers fall between the 25th and 75th percentiles shown below for New Mexico Tech.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $5,500 |
| 75th percentile | $23,504 |
| 90th percentile (highest-debt students) | $31,346 |
How wide this percentile range is tells you how much borrowing varies across students at New Mexico Tech.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at New Mexico Tech.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 55 | $11,000 |
| Completed (graduates) | 21 | $17,000 |
| Did not complete | 34 | $10,095 |
On a standard 10-year plan, the median completing borrower would pay about $202.15/mo.
Federal data lets us separate Stafford borrowers from the rest at New Mexico Tech.
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 30 | $10,108 |
| No Stafford loan this year | 25 | $12,194 |
Repayment burden translates the debt figures into what a borrower actually pays each month. New Mexico Tech.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The official Department of Education two-year default rate for New Mexico Tech appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 4.3% |
| Borrowers in the cohort | 185 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Median debt differs by income tier, first-generation status, and whether the student is financially dependent.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $14,000 |
| Middle income | $10,473 |
| High income | $10,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $11,006 |
| Continuing-generation students | $11,093 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $10,217 |
| Independent students | $17,841 |
The Department of Education computes gap indicators that show how borrowing differs between student groups at New Mexico Tech.
Subsidized and Unsubsidized Loans
Unsubsidized federal student loans accrue interest every month — even while you are still enrolled. Unless you pay that interest as it builds, the balance you owe at graduation can be noticeably higher than the amount you originally borrowed.
Worth Knowing
Federal student loans are not discharged in bankruptcy in all but the rarest cases, and the government can withhold part of your income or tax refund if you default.
References
More about our data sources and methodologies.