by our College Data Analytics TeamThe majority of students will not be asked to pay the full sticker price of a school. Rather, they are offered a financial aid plan that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The price tag of going to New Mexico Junior College can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
What financial aid options can New Mexico Junior College offer, and what will you qualify for? Keep reading for more information. Scroll down to see just how much financial aid could be open to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Read on to get a sense of the financial assistance available at New Mexico Junior College.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
For freshmen starting at New Mexico Junior College, 66% of entering full-time freshmen got some type of financial assistance approximately 396 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 66% | $2,859 |
| Institutional grants & scholarships | 23% | $2,298 |
| Federal Pell grants | 31% | $3,047 |
| State/local grants | 44% | $883 |
| Federal student loans | 1% | $2,775 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. At this school, some 48% of undergraduates were awarded grant or scholarship aid averaging $2,641 (covering around 1024 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 48% | $2,641 |
| Federal Pell grants | 27% | $2,574 |
| Federal student loans | 2% | $3,186 |
Title-IV recipients living on campus saw average grant aid of $2,734.
The figures below show the average net price — cost after all grant and scholarship aid — broken out by family income.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $6,040 |
| $30,001 – $75,000 | $6,814 |
| Over $75,000 | $8,376 |
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 | $6,524 |
| Off-campus title-IV students | $6,431 |
For a customized cost estimate, visit New Mexico Junior College’s online cost calculator: www.nmjc.edu/about/consumer_information/NetPrice/index.html.
The median federal debt load at New Mexico Junior College comes to $5,500 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $5,500 |
| Median federal debt (graduates only) | $11,313 |
| Typical 10-year monthly payment (graduates) | $119.94/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
The median alone does not show how widely outcomes vary across the student body. These percentiles trace how cumulative federal debt is spread among borrowers at New Mexico Junior College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,500 |
| 25th percentile | $2,266 |
| 75th percentile | $7,652 |
| 90th percentile (highest-debt students) | $12,542 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $6,500 |
| Middle income | $4,500 |
| High income | $5,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $5,500 |
| Continuing-generation students | $5,500 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $7,360 |
The figure below distills the debt data into a single burden category for New Mexico Junior College.
Stafford loans are the federal government’s primary direct undergraduate lending program. These figures summarize annual Stafford program activity at New Mexico Junior College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 2693 |
| Total Stafford loan amount | $24,538,730 |
References
More about our data sources and methodologies.