by our College Data Analytics TeamHere you will find what students actually borrow to attend New Mexico State University-Grants, including completion-adjusted borrowing and a standard repayment estimate. The data below is drawn directly from federal sources.
Among first-year students at NMSU Grants, 1% of new students use loans toward freshman-year expenses, averaging $971 each, across private and federal loan sources.
The typical federal loan comes to $971, amounting to 17.7% of the $5,500 first-year federal borrowing limit for a typical dependent freshman. Bear in mind the undergraduate averages later on cover federal loans only, whereas this freshman total folds in private loans too.
Among all degree-seeking undergrads at NMSU Grants, 3% borrow through federal student loan programs, at an average of $2,559 in federal loans per year. This works out to 163.5% higher than the first-year federal average of $971.
At a steady annual pace, that totals around $5,118 over two years and about $10,236 after four. This assumes steady federal borrowing and leaves out private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 3% |
| Average federal loan per year | $2,559 |
| Undergraduates with a federal loan | 11 |
| Total federal loans (one year) | $28,152 |
The median student at NMSU Grants borrows $10,250 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $10,250 |
| Students who completed (graduates) | $17,095 |
| Students who withdrew | $6,043 |
The figure for students who withdrew is worth watching: debt without a completed credential is the hardest to repay.
Looking only at the median is misleading — these four percentiles describe the full debt distribution for borrowers at NMSU Grants.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,250 |
| 25th percentile | $4,468 |
| 75th percentile | $23,359 |
| 90th percentile (highest-debt students) | $36,728 |
How wide this percentile range is tells you how much borrowing varies across students at NMSU Grants.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for NMSU Grants.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 588 | $9,512 |
| Completed (graduates) | 251 | $10,166 |
| Did not complete | 337 | $8,414 |
Completers face an estimated standard 10-year monthly payment on their PLUS-inclusive debt of roughly $120.88/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at NMSU Grants.
Borrowers With Any Stafford Loan
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 559 | $9,600 |
| No Stafford loan | 29 | $8,000 |
Current-Year Stafford Borrowers
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 427 | $9,082 |
| No Stafford loan this year | 161 | $10,000 |
The indicators below describe what the typical debt costs to pay back at NMSU Grants.
The default rate measures how many borrowers fall behind and ultimately fail to repay their federal loans. The federal two-year cohort default rate for NMSU Grants is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 15.3% |
| Borrowers in the cohort | 5246 |
The cohort default rate tracks borrowers who entered repayment in a given year and defaulted within the two-year measurement window.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $10,688 |
| Middle income | $9,443 |
| High income | $10,250 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $10,000 |
| Continuing-generation students | $11,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $9,000 |
| Independent students | $12,500 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at NMSU Grants.
The Difference Between Subsidized and Unsubsidized Loans
Subsidized loans pause interest while you are in school; unsubsidized loans do not. That difference compounds over four years, so the type of loan you take matters as much as the amount.
Worth Knowing
Declaring bankruptcy does not erase federal student loan debt. If you stop paying, the federal government can garnish a portion of your wages until the loans are repaid.
References
More about our data sources and methodologies.