by our College Data Analytics TeamMany students attending New Mexico Military Institute can expect to receive financial assistance in various forms, such as scholarships, grants, loans, and work-study programs, making the cost of attendance more manageable.
However, some types of financial aid are definitely more desireable than others, and some students will receive more aid than others.Find out more by scrolling down the page.
New Mexico Military Institute average financial aid offer for freshmen students is $8,389.00. 99% of reshman students get financial aid, most of which is in the form of grants and scholarships
Financial aid helps decrease the expense, or the “sticker” price of the school. But keep in mind that the only real discounts off the cost of college are in the form of grants and scholarships.
Uneasy about the debt that may be included in your financial aid plan? Find the average amount of debt per student at New Mexico Military Institute.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The following numbers apply to scholarships and grants largely offered by the school itself.
97% of incoming freshmen (199 total) were given scholarships at New Mexico Military Institute, averaging $5,795.00 per student. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 68% of first-year students (140 total) got federal grant aid, averaging $3,242.00 per person.
The next table demonstrates grant and scholarship distributions by income level for freshmen getting any form of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 15.53% | $13,017.00 |
| Income 30k-48k | 8.74% | $14,156.00 |
| Income 48k-75k | 9.22% | $9,667.00 |
| Income 75k-110k | 3.40% | $6,526.00 |
| Income 110k + | 0.97% | $2,965.00 |
The table above shows students who are receiving Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more.
204 NMMI undergrads obtain grant aid (this is about 99% of the entire undergraduate student population). The average amount these students receive is $8,389.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.
