New Mexico Institute of Mining and Technology
Socorro, New Mexico · Public · 44.5% acceptance rate
ROI Score: 89/100 · Strong Value
New Mexico Tech scores 89 (Strong Value) — a high score earned by a small, rigorous technical institution in Socorro, NM. The core metrics are strong: $49,000 median 6-year earnings, a 4.3-year payback period, and a 95th-percentile repayment rate of 88.2%. In-state tuition of $9,476 and net price of $9,873 are modest. The 57.1% completion rate is the school's primary weakness — nearly half of entering students do not finish, which is unusually low for a school with this earnings profile. The gap between completion rate and earnings is explained by the school's small size (995 students), technical rigor, and the fact that students who complete are disproportionately in engineering fields with strong outcomes. Electrical Engineering (18 graduates, $73,300 year-one, $117,813 year-four, A grade) and Chemical Engineering (20 graduates, $57,215 year-one, $85,900 year-four, A grade) are the strongest programs. Computer and Information Sciences reports a debt-to-earnings ratio of 0.159 (A grade), though the Scorecard reports only 2 graduates for the specific CIP code. New Mexico Tech is a specialist institution serving students who can handle rigorous STEM curricula — it is not for everyone, but for those who fit, the financial outcome is excellent.
New Mexico Institute of Mining and Technology scores in the top 25% of all schools we track, with strong earnings outcomes relative to cost.
New Mexico Institute of Mining and Technology
Quick Numbers
| In-state tuition + fees | $9,476/yr |
| Out-of-state tuition + fees | $27,247/yr |
| Average net price | $9,873/yr |
| Total 4-year cost (net) | $39,492 |
| Median earnings (10yr post-entry) | $76,489 |
| Median earnings (6yr post-entry) | $49,000 |
| Median debt at graduation | $19,085 |
| Estimated monthly loan payment | $202 |
| Estimated payback period | 4.3 years |
| 6-year graduation rate | 57.0% |
| Undergraduate enrollment | 995 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at New Mexico Institute of Mining and Technology is $9,476/year ($27,247/year out-of-state). But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $9,873/year, or roughly $39,492 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $5,136/year, while families earning over $110,000 pay $13,464/year.
The median graduate leaves with $19,085 in federal loan debt, translating to an estimated monthly payment of $202 on a standard 10-year repayment plan. Against median earnings of $76,489 ten years out, the debt-to-earnings ratio is 0.39 - well within manageable territory.
Net Price by Family Income
What families actually pay after grants and scholarships, by income bracket.
| Family Income | Avg Net Price/Year |
|---|---|
| $0 - $30,000 | $5,136 |
| $30,001 - $48,000 | $7,640 |
| $48,001 - $75,000 | $10,106 |
| $75,001 - $110,000 | $14,753 |
| $110,001+ | $13,464 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay $5,136 net price per year — about $20,544 over four years. At a 4.3-year payback period and $49,000 median 6-year earnings, the ROI case for completers is outstanding. NMT is among the most financially efficient engineering options in the Southwest for low-income students who can succeed in a rigorous technical environment. The completion risk is real — 57.1% completion — but for those who finish, the financial outcome is exceptional.
Middle-income families ($30K-$110K)
The $48,001-75,000 bracket pays $10,106 per year; the $75,001-110,000 bracket pays $14,753. These figures are below what most state flagship universities charge. Middle-income families who send a mathematically talented student to NMT for engineering are making one of the better financial choices available in the Mountain West. The payback period of 4.3 years is competitive with Colorado School of Mines at a fraction of the cost.
Higher-income families ($110K+)
Families earning over $110,000 pay $13,464 per year — roughly $53,856 over four years. This is an exceptional value even at the highest income bracket. NMT is primarily serving New Mexico residents and regional students; the school does not recruit heavily from high-income out-of-state markets. High-income families who find this institution should treat the low cost as a feature, not a warning sign.
Earnings by Major
Top 6 most popular majors at New Mexico Institute of Mining and Technology with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Mechanical Engineering | $98,213 | B+ |
| Biology | $48,211 | - |
| Chemical Engineering | $85,900 | A |
| Electrical Engineering | $117,813 | A |
| Petroleum Engineering | $95,234 | C |
| Computer and Information Sciences | $95,750 | A |
Earnings reflect median 4-year post-completion (or 1-year where 4-year unavailable). Grades based on debt-to-earnings ratio.
Program Analysis
Why these programs deliver their earnings outcomes.
Electrical Engineering
Electrical Engineering (18 graduates) earns $73,300 year-one and $117,813 year-four with an A ROI grade (debt-to-earnings 0.218). Median debt of $15,981 is low. EE graduates from NMT enter the defense, semiconductor, and energy sectors concentrated in New Mexico and throughout the Southwest. The four-year trajectory to $117,813 reflects career progression in defense contracting and energy technology — two sectors where NMT has strong direct pipelines.
Mechanical Engineering
Mechanical Engineering (50 graduates) earns $57,424 year-one and $98,213 year-four with a B+ ROI grade (debt-to-earnings 0.340). This is NMT's largest engineering program. Median debt of $19,500 against a $98,213 four-year trajectory is a solid financial position. Mechanical engineering graduates from NMT enter the oil and gas, aerospace, and renewable energy industries, where the school has built a regional reputation over several decades.
Chemical Engineering
Chemical Engineering (20 graduates) earns $57,215 year-one and $85,900 year-four with an A ROI grade (debt-to-earnings 0.249). Median debt of $14,250 is very low. NMT's chemical engineering program benefits from proximity to New Mexico's oil, gas, and minerals industries. The A grade reflects an excellent debt-to-earnings ratio — graduates are borrowing very little relative to what they earn.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 84.6% | 52.0% |
| 3-year repayment | 88.2% | 62.0% |
| 5-year repayment | 82.5% | 68.0% |
| 7-year repayment | 84.8% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 44.5% |
| SAT Math (25th-75th) | 530-650 |
| SAT Reading (25th-75th) | 550-660 |
| ACT Composite (25th-75th) | 20-29 |
| Enrollment | 995 |
| Pell Grant recipients | 29.5% |
| Avg faculty salary (monthly) | $10,264 |
A 44.5% admission rate combined with a 57.1% completion rate signals that NMT admits a mix of students, and a significant portion struggle to complete. The school is selective but not highly so — the challenge is the academic environment once enrolled. Net price ranges from $5,136 (lowest bracket) to $13,464 (highest) — genuinely affordable across income levels. Low-income students who can complete here enter the workforce with outstanding debt-to-earnings ratios.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
NMT's Scorecard peer group includes Eastern New Mexico University, Institute of American Indian Arts, U.S. Merchant Marine Academy, Maine Maritime Academy, and UNH Online. The meaningful comparison is to other specialized technical schools: Colorado School of Mines (ROI 94) has a higher score but nearly three times the net price. NMT's 89 score at under $10,000 net price represents better value-for-dollar than Mines for in-state New Mexico students. The tradeoff is location, size, completion rate, and employer network breadth.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| New Mexico Institute of Mining and Technology (this school) | 89 | $9,873 | $76,489 |
| United States Merchant Marine Academy | 93 | $6,174 | $90,610 |
| Maine Maritime Academy | 84 | $23,414 | $89,964 |
| University of New Hampshire College of Professional Studies Online | 72 | $10,864 | $66,479 |
| Eastern New Mexico University-Main Campus | 34 | $4,904 | $38,550 |
| Institute of American Indian and Alaska Native Culture and Arts Development | 28 | $12,570 | $24,505 |
Who Thrives Here
NMT admits 44.5% of applicants with SAT mid-ranges of 530-650 Math and 550-660 Reading (ACT 20-29). At 995 students, it is one of the smallest schools in this dataset and carries an intensity that large state universities do not. The Pell rate of 29.5% reflects moderate socioeconomic diversity. Students who are self-motivated, quantitatively strong, and willing to live in a small rural community in central New Mexico are the right fit. The school draws many students from New Mexico's energy and defense industries, which are the primary regional employers.
The Verdict: The Investment Pays Off
New Mexico Institute of Mining and Technology delivers above-average financial returns for its graduates. At a net cost of $9,873 per year ($39,492 over four years), graduates earn a median of $76,489 ten years after enrollment. That puts the payback period at roughly 4.3 years - a solid return on the investment.
The data highlights several strengths: strong earnings premium over high school graduates, manageable debt relative to earnings, high loan repayment success.
Median debt of $19,085 is very manageable against $76,489 in annual earnings - well within the financial advisor rule of thumb that total debt should not exceed first-year salary.
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Data: College Scorecard API (U.S. Department of Education)
Vintage: 2024-2025 · Last updated: 2026-03-25
Earnings reflect median outcomes for all federal financial aid recipients. Individual results vary by major, effort, and career path.