New Mexico Institute of Mining and Technology

www.nmt.edu

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2022 Undergraduate Tuition

$7,664

9% growth from 2021

2022 Average Net Price

$10,429

After Financial Aid

2020 Default Rate

0.433%

on Student Loans

2022 Acceptance Rate

74.4%

1,220 Applicants

2022 Enrolled Students

1,689

79.5% Full-Time

2022 Graduation Rate

55%

164 Graduates

About

New Mexico Institute of Mining and Technology is a higher education institution located in Socorro County, NM. In 2022, the most popular Bachelors Degree concentrations at New Mexico Institute of Mining and Technology were Mechanical Engineering (47 degrees awarded), Computer Science (26 degrees), and Chemical Engineering (21 degrees).

In 2022, 310 degrees were awarded across all undergraduate and graduate programs at New Mexico Institute of Mining and Technology. 31.6% of these degrees were awarded to women, and 68.4% awarded men. The most common race/ethnicity group of degree recipients was white (146 degrees), 1.35 times more than then the next closest race/ethnicity group, hispanic or latino (108 degrees).

The median undergraduate tuition at New Mexico Institute of Mining and Technology is $7,664, which is $−16,332 less than the national average for Masters Colleges and Universities ($23,996).

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 2022, the median undergraduate tuition at New Mexico Institute of Mining and Technology is $7,664, which is $16,332 less than the national average for Masters Colleges and Universities ($23,996).

After taking grants and loans into account, the average net price for students is $10,429.

In 2022, 83% of undergraduate students attending New Mexico Institute of Mining and Technology received financial aid through grants. Comparatively, 40% of undergraduate students received financial aid through loans.

Tuition Costs

$7,664

2022 Undergraduate Tuition

In 2022, 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 $−16,332 less than than the overall (public and private) national average for Masters Colleges and Universities ($23,996).

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

$10,429

2022 Value

16.4%

1 Year Growth

In 2022 New Mexico Institute of Mining and Technology had an average net price — the price paid after factoring in grants and loans — of $10,429. Between 2021 and 2022, the average net price of New Mexico Institute of Mining and Technology grew by 16.4%.

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

$8,518

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 $8,518 in 2022. The cost of room and board decreased by 1.23% between 2021 and 2022.

During the same period, the average yearly cost of books and supplies was $800. The cost of books and supplies increased by 33.3% 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

83%

Undergraduates Receiving Financial Aid through Grants

40%

Undergraduates Receiving Financial Aid through Loans

83% of undergraduate students at New Mexico Institute of Mining and Technology received financial aid through grants or loans in 2022. This represents a decline of 1.19% with respect to 2021, when 84% 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 1,220 undergraduate applications in 2022, which represents a 21.3% annual growth. Out of those 1,220 applicants, 908 students were accepted for enrollment, representing a 74.4% acceptance rate.

There were 1,689 students enrolled at New Mexico Institute of Mining and Technology in 2022.

New Mexico Institute of Mining and Technology has an overall enrollment yield of 33.1%, which represents the number of admitted students who ended up enrolling.

Acceptance Rate

74.4%

Acceptance Rate in 2022

908

Accepted Out of 1,220

In 2022, the undergraduate acceptance rate of New Mexico Institute of Mining and Technology was 74.4% (908 admissions from 1,220 applications). This is lower than the acceptance rate of 2021, which was 96.7%. Between 2021 and 2022, the number of applicants grew by 21.3%, while admissions declined by 6.68%.

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

0% of enrolled first-time students at New Mexico Institute of Mining and Technology in 2022 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 1,689 students in 2022. The full-time enrollment at New Mexico Institute of Mining and Technology is 1,342 students and the part-time enrollment is 347. This means that 79.5% 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 46.7% White, 34.2% Hispanic or Latino, 3.85% Asian, 3.37% Two or More Races, 3.02% American Indian or Alaska Native, 1.78% Black or African American, and 0.296% 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 (35%), followed by Hispanic or Latino Male (27.6%) and Hispanic or Latino Female (12.8%). Students enrolled in full-time Graduate programs are most commonly White Male (23.3%), followed by Hispanic or Latino Male (12.9%) and White Female (8.43%).

Full-Time vs Part-Time Enrollment

79.5%

Full-Time Enrollment

The total enrollment at New Mexico Institute of Mining and Technology in 2022, both undergraduate and graduate, is 1,689 students. The full-time enrollment at New Mexico Institute of Mining and Technology is 1,342 and the part-time enrollment is 347. This means that 79.5% of students enrolled at New Mexico Institute of Mining and Technology are enrolled full-time compared with 67.6% 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

75%

2022 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 75%. 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 (2022)

White
789 enrolled students
Hispanic or Latino
577 enrolled students
Asian
65 enrolled students

The enrolled student population at New Mexico Institute of Mining and Technology is 46.7% White, 34.2% Hispanic or Latino, 3.85% Asian, 3.37% Two or More Races, 3.02% American Indian or Alaska Native, 1.78% Black or African American, and 0.296% 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 51.2% White, 17.3% Hispanic or Latino, and 13% 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, 15 students (0.888%) did not report their race.

Graduates

In 2022, 114 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 (146 degrees awarded). There were 1.35 times more white recipients than the next closest race/ethnicity group, hispanic or latino (108 degrees).

The most common Bachelor's Degree concentration at New Mexico Institute of Mining and Technology is Mechanical Engineering (47 degrees awarded), followed by Computer Science (26 degrees) and Chemical Engineering (21 degrees).

In 2022, 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 (4 degrees awarded), Physical Sciences (43 degrees), and Engineering (165 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 (1,062,675 people), Other managers (557,732 people), Physicians (489,096 people), Miscellaneous engineers, including nuclear engineers (405,346 people), and Postsecondary teachers (322,564 people).

The most specialized majors at New Mexico Institute of Mining and Technology in 2022 are Applied Sciences (4 degrees awarded), Physical Sciences (43 degrees), Engineering (165 degrees), Math & Statistics (10 degrees), and Computer and Information Sciences and Support Services (41 degrees) (as of 2022).

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 Applied Sciences (4 degrees awarded), Physical Sciences (43 degrees), Engineering (165 degrees), Math & Statistics (10 degrees), and Computer and Information Sciences and Support Services (41 degrees) (as of 2022).

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 (1,132,927 people), Colleges, universities & professional schools, including junior colleges (675,427 people), General medical and surgical hospitals, and specialty (except psychiatric and substance abuse) hospitals (638,069 people), Architectural, engineering & related services (525,838 people), and Elementary & secondary schools (412,992 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 (2022)

Mechanical Engineering
47 degrees awarded
Computer Science
26 degrees awarded
Chemical Engineering
21 degrees awarded

In 2022, 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

212

Degrees Awarded to Men

in 2022

Degrees Awarded to Women

in 2022

In 2022, 212 degrees were awarded to men at New Mexico Institute of Mining and Technology, which is 2.16 times more than the number of degrees awarded to females (98).

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 2022, 51 degrees were awarded to men at New Mexico Institute of Mining and Technology in Mechanical Engineering, which is 5.1 times more than the 10 female recipients with that same degree.

Most Common Female Majors

In 2022, 18 degrees were awarded to men at New Mexico Institute of Mining and Technology in General Biological Sciences, which is 9 times more than the 2 male recipients with that same degree.

Time to Complete

30%

100% Completion Time

54%

150% Completion Time

In 2022, 30% 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, 54% 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.

Asian Male

Highest Graduation Rate (81.8%)

The student demographic with the highest graduation rate in 2022 at New Mexico Institute of Mining and Technology is Male and Asian (81.8% graduation rate). Across all Masters Colleges and Universities, Asian Female students have the highest graduation rate (73.2%).

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, 0.61% of graduates (1 students) did not report their race.

Race & Ethnicity by Share

Most Common Student Race or Ethnicity (2022)

White
146 degrees awarded
Hispanic or Latino
108 degrees awarded
Asian
11 degrees awarded

The most common race/ethnicity at New Mexico Institute of Mining and Technology is white (146 degrees awarded). There were 1.35 times more white recipients than the next closest race/ethnicity group, hispanic or latino (108 degrees).

0.968% of degree recipients (3 students) did not report their race.

Race & Ethnicity by Sex

Most Common Sex Demographic (2022)

White Male
107 degrees awarded
Hispanic or Latino Male
72 degrees awarded
White Female
39 degrees awarded

The most common race/ethnicity and sex grouping at New Mexico Institute of Mining and Technology is white male (107 degrees awarded). There were 1.49 times more white male recipients than the next closest race/ethnicity group, hispanic or latino male (72 degrees).

Operations

New Mexico Institute of Mining and Technology has an endowment valued at nearly $75.4M, as of the end of the 2022 fiscal year. The return on its endowment was of −10.5M (−13.9%) compared to the 0.773% average return (360k on 46.6M) across all Masters Colleges and Universities.

In 2022, New Mexico Institute of Mining and Technology had a total salary expenditure of 166M. New Mexico Institute of Mining and Technology employs 44 Associate professors, 43 Professors and 33 Assistant professors. Most academics at New Mexico Institute of Mining and Technology are Male Professor (36), Male Associate professor (35), 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 175 employees, Office and Administrative Support, with 117 employees, and Service with 94 employees.

Endowment

$75.4M

2022 Endowment

10.9%

decline from 2021

New Mexico Institute of Mining and Technology has an endowment valued at about $75.4M, as of the end of the 2022 fiscal year. The endowment of New Mexico Institute of Mining and Technology declined 10.9% from the previous year. The value of their endowment was $28.8M 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

$48.3M

2022 Salaries

5.27%

growth from 2021

In 2022, New Mexico Institute of Mining and Technology paid a median of $48.3M in salaries, which represents 29% of their overall expenditure ($166M) and a 5.27% growth from the previous year. This is compared to a 1.68% growth between 2020 and 2021, and a 7.55% growth between 2019 and 2020.

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

Instructional Salaries

$12.5M

Instructional Salaries

143

Number of Employees

In 2022, New Mexico Institute of Mining and Technology paid a total of $12.5M to 143 employees working as instructors, which represents 25.8% of all salaries paid.

This is compared to a median of $11.3M (31.2%) 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

175 Employees

In 2022, the most common positions for instructional staff at New Mexico Institute of Mining and Technology were Associate professor with 44 employees, Professor with 43 employees, and Assistant professor with 33 employees.

In 2022, the most common positions for non-instructional staff at New Mexico Institute of Mining and Technology were Computer, Engineering, and Science with 175 employees, Office and Administrative Support with 117 employees, and Service with 94 employees.

Instructors by Academic Rank and Sex

Most Common Demographic (2022)

Male Professor
Male Associate professor
Male Assistant professor

In 2022, the most common demographic for instructional staff at New Mexico Institute of Mining and Technology was Male Professor with 36 employees, Male Associate professor with 35 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.

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