New Mexico Institute of Mining and Technology

www.nmt.edu/

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2021 Undergraduate Tuition

$7,031

2021 Average Net Price

$12,471

After Financial Aid

2019 Student Loan

1.72%

Default Rate

2021 Acceptance Rate

96.7%

1,006 Applicants

2021 Enrolled Students

1,734

79.2% Full-Time

2021 Graduation Rate

55.3%

184 Graduates

About

New Mexico Institute of Mining and Technology is a higher education institution located in Socorro County, NM. In 2021, the most popular Bachelors Degree concentrations at New Mexico Institute of Mining and Technology were Mechanical Engineering (47 degrees awarded), Electrical & Electronics Engineering (29 degrees), and Computer Science (23 degrees).

In 2021, 345 degrees were awarded across all undergraduate and graduate programs at New Mexico Institute of Mining and Technology. 32.5% of these degrees were awarded to women, and 67.5% awarded men. The most common race/ethnicity group of degree recipients was white (155 degrees), 1.34 times more than then the next closest race/ethnicity group, hispanic or latino (116 degrees).

The median undergraduate tuition at New Mexico Institute of Mining and Technology is $7,031, which is $−16,153 less than the national average for Masters Colleges and Universities ($23,184).

Masters Colleges & Universities: Small Programs Masters Colleges and Universities

Costs

In 2021, the median undergraduate tuition at New Mexico Institute of Mining and Technology is $7,031, which is $−16,153 less than the national average for Masters Colleges and Universities ($23,184).

After taking grants and loans into account, the average net price for students is $12,471.

In 2021, 84% of undergraduate students attending New Mexico Institute of Mining and Technology received financial aid through grants. Comparatively, 45% of undergraduate students received financial aid through loans.

Tuition Costs

$7,031

2021 Undergraduate Tuition

In 2021, the cost of tuition at New Mexico Institute of Mining and Technology was $7,031. The cost of tuition at New Mexico Institute of Mining and Technology is $−16,153 less than than the overall (public and private) national average for Masters Colleges and Universities ($23,184).

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

$12,471

2021 Value

15.9%

1 Year Growth

In 2021 New Mexico Institute of Mining and Technology had an average net price — the price paid after factoring in grants and loans — of $12,471. Between 2020 and 2021, the average net price of New Mexico Institute of Mining and Technology grew by 15.9%.

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

$8,624

Room and Board

$600

Books and Supplies

The average yearly cost of room and board at New Mexico Institute of Mining and Technology was of $8,624 in 2021. The cost of room and board did not change between 2020 and 2021.

During the same period, the average yearly cost of books and supplies was $600. The cost of books and supplies decreased by 47.8% 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

84%

Undergraduates Receiving Financial Aid through Grants

45%

Undergraduates Receiving Financial Aid through Loans

84% of undergraduate students at New Mexico Institute of Mining and Technology received financial aid through grants or loans in 2021. This represents a growth of 7.69% with respect to 2020, when 78% 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.

1.72%

2019 Default Rate

Number of Defaults

In 2019 the default rate for borrower's at New Mexico Institute of Mining and Technology was 1.72%, which represents 4 out of the 233 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 1,006 undergraduate applications in 2021, which represents a 42.6% annual growth. Out of those 1,006 applicants, 973 students were accepted for enrollment, representing a 96.7% acceptance rate.

There were 1,734 students enrolled at New Mexico Institute of Mining and Technology in 2021. 43% of first-time enrollees submitted SAT scores with their applications.

New Mexico Institute of Mining and Technology has an overall enrollment yield of 30.9%, which represents the number of admitted students who ended up enrolling.

Acceptance Rate

96.7%

Acceptance Rate in 2021

973

Accepted Out of 1,006

In 2021, the undergraduate acceptance rate of New Mexico Institute of Mining and Technology was 96.7% (973 admissions from 1,006 applications). This is higher than the acceptance rate of 2020, which was 96.6%. Between 2020 and 2021, the number of applicants grew by 42.6%, while admissions declined by −42.6%..

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

43%

Submission Percentage (2021)

127

Scores Submitted (2021)

43% of enrolled first-time students at New Mexico Institute of Mining and Technology in 2021 submitted SAT scores with their applications.

This chart shows the SAT scores for the 25th and 75th percentile of applicants broken out into each section of the test that their are evaluated on.

Enrollment

New Mexico Institute of Mining and Technology had a total enrollment of 1,734 students in 2021. The full-time enrollment at New Mexico Institute of Mining and Technology is 1,374 students and the part-time enrollment is 360. This means that 79.2% 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 48.3% White, 34.3% Hispanic or Latino, 4.27% Asian, 3.23% American Indian or Alaska Native, 2.94% Two or More Races, 1.61% Black or African American, and 0.173% 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 (33.8%), followed by Hispanic or Latino Male (27%) and Hispanic or Latino Female (13.7%). Students enrolled in full-time Graduate programs are most commonly White Male (28.5%), followed by White Female (12.6%) and Hispanic or Latino Male (12.1%).

Full-Time vs Part-Time Enrollment

79.2%

Full-Time Enrollment

The total enrollment at New Mexico Institute of Mining and Technology in 2021, both undergraduate and graduate, is 1,734 students. The full-time enrollment at New Mexico Institute of Mining and Technology is 1,374 and the part-time enrollment is 360. This means that 79.2% of students enrolled at New Mexico Institute of Mining and Technology are enrolled full-time compared with 68.3% 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

76%

2021 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 76%. Compared with the full-time retention rate at similar Masters Colleges and Universities (73%), 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 (2021)

White
837 enrolled students
Hispanic or Latino
595 enrolled students
Asian
74 enrolled students

The enrolled student population at New Mexico Institute of Mining and Technology is 48.3% White, 34.3% Hispanic or Latino, 4.27% Asian, 3.23% American Indian or Alaska Native, 2.94% Two or More Races, 1.61% Black or African American, and 0.173% 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 52% White, 16.9% Hispanic or Latino, and 12.8% 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, 17 students (0.98%) did not report their race.

Graduates

In 2021, 121 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 (155 degrees awarded). There were 1.34 times more white recipients than the next closest race/ethnicity group, hispanic or latino (116 degrees).

The most common Bachelor's Degree concentration at New Mexico Institute of Mining and Technology is Mechanical Engineering (47 degrees awarded), followed by Electrical & Electronics Engineering (29 degrees) and Computer Science (23 degrees).

In 2021, 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 Engineering (188 degrees awarded), Physical Sciences (43 degrees), and Applied Sciences (2 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 (965,911 people), Other managers (545,490 people), Physicians (481,124 people), Miscellaneous engineers, including nuclear engineers (390,351 people), and Postsecondary teachers (321,494 people).

The most specialized majors at New Mexico Institute of Mining and Technology in 2021 are Engineering (188 degrees awarded), Physical Sciences (43 degrees), Applied Sciences (2 degrees), Math & Statistics (13 degrees), and Biology (28 degrees) (as of 2021).

Highest Paying Jobs by Major

Podiatrists

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 Podiatrists, Surgeons, Physicians, Securities, commodities, & financial services sales agents, and Cardiovascular technologists and technicians

The most specialized majors at New Mexico Institute of Mining and Technology are Engineering (188 degrees awarded), Physical Sciences (43 degrees), Applied Sciences (2 degrees), Math & Statistics (13 degrees), and Biology (28 degrees) (as of 2021).

Common Industries by Major

Computer Systems Design

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 Computer Systems Design (1,074,874 people), Colleges, universities & professional schools, including junior colleges (659,131 people), General medical and surgical hospitals, and specialty (except psychiatric and substance abuse) hospitals (623,683 people), Architectural, engineering & related services (507,898 people), and Elementary & secondary schools (399,859 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 (2021)

Mechanical Engineering
47 degree-majors awarded
Electrical & Electronics Engineering
29 degree-majors awarded
Computer Science
23 degree-majors awarded

In 2021, the most common bachelors degree concentration at New Mexico Institute of Mining and Technology was Mechanical Engineering with 47 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

233

Degrees Awarded to Men

in 2021

112

Degrees Awarded to Women

in 2021

In 2021, 233 degrees were awarded to men at New Mexico Institute of Mining and Technology, which is 2.08 times more than the number of degrees awarded to females (112).

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 2021, 57 degrees were awarded to men at New Mexico Institute of Mining and Technology in Mechanical Engineering, which is 7.13 times more than the 8 female recipients with that same degree.

Most Common Female Majors

In 2021, 13 degrees were awarded to men at New Mexico Institute of Mining and Technology in General Biological Sciences, which is 1.86 times more than the 7 male recipients with that same degree.

Time to Complete

27%

100% Completion Time

50%

150% Completion Time

In 2021, 27% 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, 50% completed their degrees within 150% of the normal time, and 55% 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.

Black or African American Male

Highest Graduation Rate (100%)

The student demographic with the highest graduation rate in 2021 at New Mexico Institute of Mining and Technology is Male and Black or African American (100% graduation rate). Across all Masters Colleges and Universities, Asian Female students have the highest graduation rate (72.9%).

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, 1.09% of graduates (2 students) did not report their race.

Race & Ethnicity by Share

Most Common Student Race or Ethnicity (2021)

White
155 degrees awarded
Hispanic or Latino
116 degrees awarded
Asian
20 degrees awarded

The most common race/ethnicity at New Mexico Institute of Mining and Technology is white (155 degrees awarded). There were 1.34 times more white recipients than the next closest race/ethnicity group, hispanic or latino (116 degrees).

0.29% of degree recipients (1 students) did not report their race.

Race & Ethnicity by Sex

Most Common Sex Demographic (2021)

White Male
108 degrees awarded
Hispanic or Latino Male
80 degrees awarded
White Female
47 degrees awarded

The most common race/ethnicity and sex grouping at New Mexico Institute of Mining and Technology is white male (108 degrees awarded). There were 1.35 times more white male recipients than the next closest race/ethnicity group, hispanic or latino male (80 degrees).

Operations

New Mexico Institute of Mining and Technology has an endowment valued at nearly $84.6M, as of the end of the 2021 fiscal year. The return on its endowment was of −NaNk (−0.017%) compared to the 13.1% average return (6.61M on 50.4M) across all Masters Colleges and Universities.

In 2021, New Mexico Institute of Mining and Technology had a total salary expenditure of 197M. New Mexico Institute of Mining and Technology employs 41 Professors, 41 Associate professors and 35 Assistant professors. Most academics at New Mexico Institute of Mining and Technology are Male Professor (33), Male Associate professor (33), and Male Assistant professor (26).

The most common positions for non-instructional staff at New Mexico Institute of Mining and Technology are: Computer, Engineering, and Science, with 164 employees, Office and Administrative Support, with 114 employees, and Service with 86 employees.

Endowment

$84.6M

2021 Endowment

38.5%

growth from 2020

New Mexico Institute of Mining and Technology has an endowment valued at about $84.6M, as of the end of the 2021 fiscal year. The endowment of New Mexico Institute of Mining and Technology grew 38.5% from the previous year. The value of their endowment was $34.2M 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

$45.9M

2021 Salaries

1.68%

growth from 2020

In 2021, New Mexico Institute of Mining and Technology paid a median of $45.9M in salaries, which represents 23.3% of their overall expenditure ($197M) and a 1.68% growth from the previous year.

The median for similar Masters Colleges and Universities is 35.1M (41.3% of overall expenditures).

Instructional Salaries

$11M

Instructional Salaries

134

Number of Employees

In 2021, New Mexico Institute of Mining and Technology paid a total of $11M to 134 employees working as instructors, which represents 24% of all salaries paid.

This is compared to a median of $11M (31.3%) for similar Masters Colleges and Universities.

Occupations by Share

Professor

Most Common Instructor

41 Employees

Computer, Engineering, and Science

Most Common Non-Instructional Employee

164 Employees

In 2021, the most common positions for instructional staff at New Mexico Institute of Mining and Technology were Professor with 41 employees, Associate professor with 41 employees, and Assistant professor with 35 employees.

In 2021, the most common positions for non-instructional staff at New Mexico Institute of Mining and Technology were Computer, Engineering, and Science with 164 employees, Office and Administrative Support with 114 employees, and Service with 86 employees.

Instructors by Academic Rank and Sex

Most Common Demographic (2021)

Male Professor
Male Associate professor
Male Assistant professor

In 2021, the most common demographic for instructional staff at New Mexico Institute of Mining and Technology was Male Professor with 33 employees, Male Associate professor with 33 employees, and Male Assistant professor with 26 employees.

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