by our College Data Analytics TeamHere you will find what students actually borrow to attend University of New Mexico-Main Campus— how much they borrow, how that debt is spread across the student body, and what it costs to pay back. All figures come from the U.S. Department of Education and IPEDS.
At UNM, 17% of first-year students take on loan debt, borrowing on average $6,112 each, across private and federal loan sources.
On the federal side, the average loan is $5,402, which is 98.2% of the $5,500 first-year borrowing cap for the typical first-year dependent student. Remember the all-undergraduate figures below leave out private loans, so they will look lower than this private-plus-federal freshman amount.
Across the full undergraduate body at UNM (freshmen included), 45% use federal student loans to help pay for their education, averaging $2,701 in federal loans per year. This is 50.0% smaller than the $5,402 borrowed by freshmen.
Borrowing at that rate every year works out to about $5,402 in two years and roughly $10,804 across a four-year program. These figures assume identical federal borrowing each year and omit private and Parent PLUS loans.
| Undergraduate federal borrowing | Value |
|---|---|
| Share using federal loans | 45% |
| Average federal loan per year | $2,701 |
| Undergraduates with a federal loan | 7,424 |
| Total federal loans (one year) | $20,050,612 |
The median student at UNM borrows $13,698 in federal student loans.
| Borrower group | Median federal debt |
|---|---|
| All federal borrowers | $13,698 |
| Students who completed (graduates) | $18,450 |
| Students who withdrew | $9,322 |
Debt carried by students who withdrew is a key risk signal — these borrowers owe money without having earned the credential.
Half of all borrowers fall between the 25th and 75th percentiles shown below for UNM.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $5,500 |
| 75th percentile | $25,000 |
| 90th percentile (highest-debt students) | $36,820 |
The spread between the lowest- and highest-debt deciles summarizes how variable outcomes are at UNM.
Median federal debt understates the full cost when PLUS loans are included. The totals below add PLUS borrowing for UNM.
| Group | Borrowers | Median debt incl. PLUS |
|---|---|---|
| All borrowers | 879 | $12,107 |
| Completed (graduates) | 412 | $13,000 |
| Did not complete | 467 | $11,337 |
For students who completed, the median total debt including PLUS loans works out to a standard 10-year payment of about $154.58/mo.
The split below distinguishes Stafford borrowers from non-Stafford borrowers at UNM.
Stafford vs Non-Stafford (any year)
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Used a Stafford loan | 858 | $12,053 |
| No Stafford loan | 21 | $12,781 |
Stafford This Year vs Not
| Cohort | Borrowers | Median debt incl. PLUS |
|---|---|---|
| Stafford loan this year | 607 | $10,500 |
| No Stafford loan this year | 272 | $15,155 |
These figures turn the debt totals into a monthly repayment picture for UNM.
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 UNM is shown below.
| Metric | Value |
|---|---|
| 2-year cohort default rate | 9.9% |
| Borrowers in the cohort | 4873 |
This rate follows a borrower cohort from the start of repayment through the two-year window the Department of Education uses.
The breakdowns below show median federal debt by income, first-generation status, and dependency.
Borrowing by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $14,250 |
| Middle income | $13,238 |
| High income | $13,000 |
First-Gen vs Continuing-Gen Borrowing
| Cohort | Median federal debt |
|---|---|
| First-generation students | $13,750 |
| Continuing-generation students | $13,097 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $12,000 |
| Independent students | $18,000 |
These pre-calculated indicators summarize the borrowing gaps between cohorts at UNM.
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.
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.