by our College Data Analytics TeamBelow is federal data on the loans students use to pay for New Mexico Military Institute— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. The data below is drawn directly from federal sources.
Among first-year students at NMMI, 6% of new students use loans toward freshman-year expenses, with a typical loan of $3,586 per borrower, covering both private and federal loans.
The average federally funded loan is $3,586, which is 65.2% 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 NMMI (freshmen included), 6% take out federal student loans, at an average of $3,500 a year. That is 2.4% less than the $3,586 freshmen take on.
At a steady annual pace, that totals around $7,000 after two years and $14,000 after four. The estimate holds federal borrowing constant and does not count private or Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 6% |
| Average federal loan per year | $3,500 |
| Undergraduates with a federal loan | 20 |
| Total federal loans (one year) | $70,001 |
Graduating and withdrawing students at NMMI carry a median federal debt of $4,549 of cumulative federal debt.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $4,549 |
| Students who completed (graduates) | $5,500 |
| Students who withdrew | $4,494 |
Withdrawn-student debt matters because those borrowers carry the loans without the degree that helps repay them.
Half of all borrowers fall between the 25th and 75th percentiles shown below for NMMI.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,246 |
| 25th percentile | $2,888 |
| 75th percentile | $8,250 |
| 90th percentile (highest-debt students) | $12,000 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at NMMI.
These figures turn the debt totals into a monthly repayment picture for NMMI.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. Two-year cohort default-rate data for NMMI appears below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 8.1% |
| Borrowers in the cohort | 37 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
Borrowing varies by family income, by first-generation status, and by dependency status.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| High income | $5,137 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $4,000 |
| Continuing-generation students | $4,886 |
Federal data publishes the following gap measures for NMMI.
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.
Did You Know?
Unlike most other debt, federal student loans generally survive bankruptcy — and unpaid balances can lead to wage garnishment — so borrow only what you truly need.
References
More about our data sources and methodologies.