by our College Data Analytics TeamThis page focuses on the debt students take on to attend New Mexico Junior College, including completion-adjusted borrowing and a standard repayment estimate. These figures are reported by the Department of Education and IPEDS.
At New Mexico Junior College specifically, 1% of incoming undergraduates borrow in year one, averaging $2,775 each — a figure that counts both private and federal student loans.
The typical federal loan comes to $2,775, or about 50.5% of the $5,500 first-year federal borrowing limit for a typical dependent freshman. Note that average undergraduate loan amounts shown later do not include private loans — so the full freshman figure above is not directly comparable.
Looking at all undergraduates at New Mexico Junior College, freshmen included, 2% finance part of their studies with federal loans, averaging $3,186 each per year. That is 14.8% larger than the $2,775 borrowed by freshmen.
Borrowing the same amount each year would add up to roughly $6,372 by year two and around $12,744 after four. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 2% |
| Average federal loan per year | $3,186 |
| Undergraduates with a federal loan | 39 |
| Total federal loans (one year) | $124,263 |
The median student at New Mexico Junior College borrows $5,500 in federal borrowing.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $5,500 |
| Students who completed (graduates) | $11,313 |
| Students who withdrew | $5,000 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
The median hides the spread, so the percentiles below show cumulative federal debt at four points in the distribution for 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 |
The gap between the 10th and 90th percentile is the clearest single measure of how widely borrowing varies at New Mexico Junior College.
PLUS loans — taken out by parents or graduate students — add to the total cost of attendance financed by debt at New Mexico Junior College.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 75 | $13,528 |
Repayment burden translates the debt figures into what a borrower actually pays each month. New Mexico Junior College.
A loan default — failing to keep up with federal student-loan payments — is one of the worst financial outcomes a borrower can face. The federal two-year cohort default rate for New Mexico Junior College follows.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 22.1% |
| Borrowers in the cohort | 244 |
A lower default rate generally signals that graduates earn enough to manage their loan payments.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $6,500 |
| Middle income | $4,500 |
| High income | $5,500 |
By First-Generation Status
| 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 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at New Mexico Junior College.
Subsidized and Unsubsidized Loans
With an unsubsidized loan, interest starts adding up the day the loan is disbursed, including during school. Subsidized loans, by contrast, do not accrue interest while you are enrolled at least half-time, which makes them the less expensive option when you qualify.
Did You Know?
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.