New Mexico Institute of Mining and Technology

www.nmt.edu

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2023 Undergraduate Tuition

$7,664

2023 Average Net Price

$9,133

After Financial Aid

2020 Default Rate

0.433%

on Student Loans

2023 Acceptance Rate

54%

1,112 Applicants

2023 Enrolled Students

1,713

78.1% Full-Time

2023 Graduation Rate

56.4%

133 Graduates

About

New Mexico Institute of Mining and Technology is a higher education institution located in Socorro County, NM. In 2023, the most popular Bachelors Degree concentrations at New Mexico Institute of Mining and Technology were Mechanical Engineering (50 degrees awarded), Computer Science (32 degrees), and Chemical Engineering (20 degrees).

In 2023, 356 degrees were awarded across all undergraduate and graduate programs at New Mexico Institute of Mining and Technology. 33.1% of these degrees were awarded to women, and 66.9% awarded men. The most common race/ethnicity group of degree recipients was white (173 degrees), 1.48 times more than then the next closest race/ethnicity group, hispanic or latino (117 degrees).

The median undergraduate tuition at New Mexico Institute of Mining and Technology is $7,664, which is $−16,911 less than the national average for Masters Colleges and Universities ($24,575).

In 2020 the default rate for borrower's at New Mexico Institute of Mining and Technology was 0.433%, corresponding to 1 out of the 231 total borrowers.

Masters Colleges & Universities: Small Programs Masters Colleges and Universities

Costs

In 2023, the median undergraduate tuition at New Mexico Institute of Mining and Technology is $7,664, which is $16,911 less than the national average for Masters Colleges and Universities ($24,575).

After taking grants and loans into account, the average net price for students is $9,133.

In 2023, 87% of undergraduate students attending New Mexico Institute of Mining and Technology received financial aid through grants. Comparatively, 35% of undergraduate students received financial aid through loans.

Tuition Costs

$7,664

2023 Undergraduate Tuition

In 2023, the cost of tuition at New Mexico Institute of Mining and Technology was $7,664. The cost of tuition at New Mexico Institute of Mining and Technology is $−16,911 less than than the overall (public and private) national average for Masters Colleges and Universities ($24,575).

This chart compares the tuition costs of New Mexico Institute of Mining and Technology (in red) with those of other similar universities.

Average Net Price

$9,133

2023 Value

12.4%

1 Year Growth

In 2023 New Mexico Institute of Mining and Technology had an average net price — the price paid after factoring in grants and loans — of $9,133. Between 2022 and 2023, the average net price of New Mexico Institute of Mining and Technology grew by 12.4%.

This chart compares the average net price of New Mexico Institute of Mining and Technology (in red) with that of other similar universities.

Average net price is calculated from full-time beginning undergraduate students who were awarded a grant or scholarship from federal, state or local governments, or the institution.

Other Student Expenses

$8,332

Room and Board

$800

Books and Supplies

The average yearly cost of room and board at New Mexico Institute of Mining and Technology was of $8,332 in 2023. The cost of room and board decreased by 2.18% between 2022 and 2023.

During the same period, the average yearly cost of books and supplies was $800. The cost of books and supplies did not change during the same period.

This chart compares the average student costs at New Mexico Institute of Mining and Technology (in red) with that of similar universities.

Financial Aid by Income Level

87%

Undergraduates Receiving Financial Aid through Grants

35%

Undergraduates Receiving Financial Aid through Loans

87% of undergraduate students at New Mexico Institute of Mining and Technology received financial aid through grants or loans in 2023. This represents a growth of 4.82% with respect to 2022, when 83% of undergraduate students received financial aid.

This chart compares the average award discount at New Mexico Institute of Mining and Technology (in red) with that of other similar universities.

The average award discount is the ratio between the average grant or scholarship value, and the cost, which is the sum of out-of-state tuition, room, board, book, supplies, and other expenses.

Student Loan Default Rate

Cohort default rates only account for borrowers who default in the first three years, and some schools only have a small proportion of borrowers entering repayment. These rates should be interpreted with caution, as they may not be reflective of the entire school population.

0.433%

2020 Default Rate

Number of Defaults

In 2020 the default rate for borrower's at New Mexico Institute of Mining and Technology was 0.433%, which represents 1 out of the 231 total borrowers.

A cohort default rate is the percentage of a school's borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1 to September 30, and default or meet other specified conditions prior to the end of the second following fiscal year.

Admissions

New Mexico Institute of Mining and Technology received 1,112 undergraduate applications in 2023, which represents a 8.85% annual growth. Out of those 1,112 applicants, 600 students were accepted for enrollment, representing a 54% acceptance rate.

There were 1,713 students enrolled at New Mexico Institute of Mining and Technology in 2023. 79% of first-time enrollees submitted SAT scores with their applications.

New Mexico Institute of Mining and Technology has an overall enrollment yield of 37%, which represents the number of admitted students who ended up enrolling.

Acceptance Rate

54%

Acceptance Rate in 2023

600

Accepted Out of 1,112

In 2023, the undergraduate acceptance rate of New Mexico Institute of Mining and Technology was 54% (600 admissions from 1,112 applications). This is lower than the acceptance rate of 2022, which was 74.4%. Between 2022 and 2023, the number of applicants declined by 8.85%, while admissions declined by 33.9%.

This chart compares the acceptance rate of New Mexico Institute of Mining and Technology (in red) with that of other similar universities, and the chart below shows the acceptance rate by gender.

SAT Scores

79%

Submission Percentage (2023)

176

Scores Submitted (2023)

79% of enrolled first-time students at New Mexico Institute of Mining and Technology in 2023 submitted SAT scores with their applications.

The following chart shows the average SAT scores for the 25th, 50th, and 75th percentile of applicants for each section of the test that they are evaluated on.

Enrollment

New Mexico Institute of Mining and Technology had a total enrollment of 1,713 students in 2023. The full-time enrollment at New Mexico Institute of Mining and Technology is 1,337 students and the part-time enrollment is 376. This means that 78.1% of students enrolled at New Mexico Institute of Mining and Technology are enrolled full-time.

The enrolled student population at New Mexico Institute of Mining and Technology, both undergraduate and graduate, is 44.2% White, 34% Hispanic or Latino, 3.21% American Indian or Alaska Native, 3.21% Asian, 3.09% Two or More Races, 1.52% Black or African American, and 0.175% Native Hawaiian or Other Pacific Islanders.

Students enrolled at New Mexico Institute of Mining and Technology in full-time Undergraduate programs are most commonly White Male (34.6%), followed by Hispanic or Latino Male (28%) and Hispanic or Latino Female (13%). Students enrolled in full-time Graduate programs are most commonly White Male (21.9%), followed by Hispanic or Latino Male (12.1%) and White Female (9.6%).

Full-Time vs Part-Time Enrollment

78.1%

Full-Time Enrollment

The total enrollment at New Mexico Institute of Mining and Technology in 2023, both undergraduate and graduate, is 1,713 students. The full-time enrollment at New Mexico Institute of Mining and Technology is 1,337 and the part-time enrollment is 376. This means that 78.1% of students enrolled at New Mexico Institute of Mining and Technology are enrolled full-time compared with 68.2% at similar Masters Colleges and Universities.

This chart shows the full-time vs part-time enrollment status at New Mexico Institute of Mining and Technology (in red) compares to similar universities.

Retention Rate over Time

77%

2023 Retention Rate

Retention rate measures the number of first-time students who began their studies the previous fall and returned to school the following fall. The retention rate for full-time undergraduates at New Mexico Institute of Mining and Technology was 77%. Compared with the full-time retention rate at similar Masters Colleges and Universities (74%), New Mexico Institute of Mining and Technology had a retention rate higher than its peers.

This chart shows the retention rate over time at New Mexico Institute of Mining and Technology (highlighted in red) compares to similar universities.

Enrollment by Race & Ethnicity

Most Common Race or Ethnicity (2023)

White
757 enrolled students
Hispanic or Latino
583 enrolled students
American Indian or Alaska Native
55 enrolled students

The enrolled student population at New Mexico Institute of Mining and Technology is 44.2% White, 34% Hispanic or Latino, 3.21% American Indian or Alaska Native, 3.21% Asian, 3.09% Two or More Races, 1.52% Black or African American, and 0.175% Native Hawaiian or Other Pacific Islanders. This includes both full-time and part-time students as well as graduate and undergraduates. By comparison, enrollment for all Masters Colleges and Universities is 50.1% White, 17.7% Hispanic or Latino, and 13.4% Black or African American.

Any student who is studying in the United States on a temporary basis is categorized as a "Non-Resident Alien", and the share of those students are shown in the chart below. Additionally, 43 students (2.51%) did not report their race.

Graduates

In 2023, 120 fewer women than men received degrees from New Mexico Institute of Mining and Technology. The most common race/ethnicity group of degree recipients at New Mexico Institute of Mining and Technology is white (173 degrees awarded). There were 1.48 times more white recipients than the next closest race/ethnicity group, hispanic or latino (117 degrees).

The most common Bachelor's Degree concentration at New Mexico Institute of Mining and Technology is Mechanical Engineering (50 degrees awarded), followed by Computer Science (32 degrees) and Chemical Engineering (20 degrees).

In 2023, the most specialized majors across all degree types at New Mexico Institute of Mining and Technology, meaning they have significantly more degrees awarded in that concentration than the national average across all institutions, are Applied Sciences (6 degrees awarded), Engineering (183 degrees), and Physical Sciences (40 degrees).

Common Jobs by Major

Software developers

Most Common Job

The most common jobs for people who hold a degree in one of the 5 most specialized majors at New Mexico Institute of Mining and Technology are Software developers (606,602 people), Other managers (498,977 people), Physicians (490,517 people), Miscellaneous engineers, including nuclear engineers (407,020 people), and Civil engineers (311,959 people).

The most specialized majors at New Mexico Institute of Mining and Technology in 2023 are Applied Sciences (6 degrees awarded), Engineering (183 degrees), Physical Sciences (40 degrees), Math & Statistics (13 degrees), and Engineering Technologies (15 degrees) (as of 2023).

Highest Paying Jobs by Major

Surgeons

Highest Paying Job

The highest paying jobs for people who hold a degree in one of the 5 most specialized majors at New Mexico Institute of Mining and Technology are Surgeons, Diagnostic medical sonographers, Podiatrists, Cardiovascular technologists and technicians, and Media and communication workers, all other

The most specialized majors at New Mexico Institute of Mining and Technology are Applied Sciences (6 degrees awarded), Engineering (183 degrees), Physical Sciences (40 degrees), Math & Statistics (13 degrees), and Engineering Technologies (15 degrees) (as of 2023).

Common Industries by Major

Elementary & secondary schools

Most Common Industry

The most common industries for people who hold a degree in one of the 5 most specialized majors at New Mexico Institute of Mining and Technology are Elementary & secondary schools (5,586,329 people), General medical and surgical hospitals, and specialty (except psychiatric and substance abuse) hospitals (3,275,256 people), Colleges, universities & professional schools, including junior colleges (2,452,532 people), Computer Systems Design (2,343,824 people), and Construction (1,303,670 people).

Majors Awarded

IPEDS uses the Classification of Instructional Programs (CIP) standard, so the categories may not match the exact concentrations offered by New Mexico Institute of Mining and Technology.

Most Common (2023)

Mechanical Engineering
50 degrees awarded
Computer Science
32 degrees awarded
Chemical Engineering
20 degrees awarded

In 2023, the most common bachelors degree concentration at New Mexico Institute of Mining and Technology was Mechanical Engineering with 50 degrees awarded.

This visualization illustrates the percentage of degree-majors recipients from bachelors degree programs at New Mexico Institute of Mining and Technology according to their major.

Sex Breakdown for Common Majors

238

Degrees Awarded to Men

in 2023

118

Degrees Awarded to Women

in 2023

In 2023, 238 degrees were awarded to men at New Mexico Institute of Mining and Technology, which is 2.02 times more than the number of degrees awarded to females (118).

This chart displays the sex disparity between the top 5 majors at New Mexico Institute of Mining and Technology by degrees awarded.

Most Common Male Majors

In 2023, 55 degrees were awarded to men at New Mexico Institute of Mining and Technology in Mechanical Engineering, which is 2.75 times more than the 20 female recipients with that same degree.

Most Common Female Majors

In 2023, 20 degrees were awarded to men at New Mexico Institute of Mining and Technology in Mechanical Engineering, which is 0.364 times less than the 55 male recipients with that same degree.

Time to Complete

31%

100% Completion Time

55%

150% Completion Time

In 2023, 31% of students graduating from New Mexico Institute of Mining and Technology completed their program within 100% "normal time" (i.e. 4 years for a 4-year degree). Comparatively, 55% completed their degrees within 150% of the normal time, and 58% within 200%.

The following chart shows these completion rates over time compared to the average for the Masters Colleges and Universities Carnegie Classification group.

Graduation rate is defined as the percentage of full-time, first-time students who received a degree or award within a specific percentage of "normal time" to completion for their program.

Graduation Rate by Race and Sex

Showing demographic groups with ≥ 5 graduating students.

Two or More Races Female

Highest Graduation Rate (100%)

The student demographic with the highest graduation rate in 2023 at New Mexico Institute of Mining and Technology is Female and Two or More Races (100% graduation rate). Across all Masters Colleges and Universities, Non-resident Alien Male students have the highest graduation rate (65.7%).

The department of education defines graduation rate as the percentage of full-time, first-time students who received a degree or award within 150% of "normal time" to completion.

The National Center for Education Statistics (NCES) categorizes any student who is studying in the United States on a temporary basis as a "Non-Resident Alien", and the graduation rate of those students is shown in the chart below. Additionally, 0.752% of graduates (1 students) did not report their race.

Race & Ethnicity by Share

Most Common Student Race or Ethnicity (2023)

White
173 degrees awarded
Hispanic or Latino
117 degrees awarded
Asian
13 degrees awarded

The most common race/ethnicity at New Mexico Institute of Mining and Technology is white (173 degrees awarded). There were 1.48 times more white recipients than the next closest race/ethnicity group, hispanic or latino (117 degrees).

0.281% of degree recipients (1 students) did not report their race.

Race & Ethnicity by Sex

Most Common Sex Demographic (2023)

White Male
115 degrees awarded
Hispanic or Latino Male
81 degrees awarded
White Female
58 degrees awarded

The most common race/ethnicity and sex grouping at New Mexico Institute of Mining and Technology is white male (115 degrees awarded). There were 1.42 times more white male recipients than the next closest race/ethnicity group, hispanic or latino male (81 degrees).

Operations

New Mexico Institute of Mining and Technology has an endowment valued at nearly $88.5M, as of the end of the 2023 fiscal year. The return on its endowment was of 7.75M (8.75%) compared to the 5.72% average return (2.84M on 49.7M) across all Masters Colleges and Universities.

In 2023, New Mexico Institute of Mining and Technology had a total salary expenditure of 204M. New Mexico Institute of Mining and Technology employs 44 Associate professors, 41 Professors and 33 Assistant professors. Most academics at New Mexico Institute of Mining and Technology are Male Associate professor (36), Male Professor (34), and Male Assistant professor (24).

The most common positions for non-instructional staff at New Mexico Institute of Mining and Technology are: Computer, Engineering, and Science, with 155 employees, Office and Administrative Support, with 110 employees, and Service with 79 employees.

Endowment

$88.5M

2023 Endowment

17.4%

growth from 2022

New Mexico Institute of Mining and Technology has an endowment valued at about $88.5M, as of the end of the 2023 fiscal year. The endowment of New Mexico Institute of Mining and Technology grew 17.4% from the previous year. The value of their endowment was $38.8M higher than than the median endowment of Masters Colleges and Universities according to the Carnegie Classification grouping.

This line chart shows how the endowment at New Mexico Institute of Mining and Technology (in red) compares to that of some similar universities.

The small bar chart below shows the endowment quintiles for all universities in the Masters Colleges & Universities: Small Programs Carnegie Classification grouping.

Salary Expenditure

$52.6M

2023 Salaries

8.82%

growth from 2022

In 2023, New Mexico Institute of Mining and Technology paid a median of $52.6M in salaries, which represents 25.8% of their overall expenditure ($204M) and a 8.82% growth from the previous year. This is compared to a 5.27% growth between 2021 and 2022, and a 1.68% growth between 2020 and 2021.

The median for similar Masters Colleges and Universities is 36.1M (39.6% of overall expenditures).

Instructional Salaries

$13.1M

Instructional Salaries

146

Number of Employees

In 2023, New Mexico Institute of Mining and Technology paid a total of $13.1M to 146 employees working as instructors, which represents 24.9% of all salaries paid.

This is compared to a median of $1.12M (2.97%) for similar Masters Colleges and Universities.

Occupations by Share

Associate professor

Most Common Instructor

44 Employees

Computer, Engineering, and Science

Most Common Non-Instructional Employee

155 Employees

In 2023, the most common positions for instructional staff at New Mexico Institute of Mining and Technology were Associate professor with 44 employees, Professor with 41 employees, and Assistant professor with 33 employees.

In 2023, the most common positions for non-instructional staff at New Mexico Institute of Mining and Technology were Computer, Engineering, and Science with 155 employees, Office and Administrative Support with 110 employees, and Service with 79 employees.

Instructors by Academic Rank and Sex

Most Common Demographic (2023)

Male Associate professor
Male Professor
Male Assistant professor

In 2023, the most common demographic for instructional staff at New Mexico Institute of Mining and Technology was Male Associate professor with 36 employees, Male Professor with 34 employees, and Male Assistant professor with 24 employees.

This chart shows the sex split between each academic rank present at New Mexico Institute of Mining and Technology.

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