New Mexico Institute of Mining and Technology
Socorro, New Mexico · Public · 44.5% acceptance rate
ROI Score: 89/100 · Strong Value
Data: 2024-25 College Scorecard release
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 average 6-year earnings, a 4.3-year payback period, and a 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. 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 6% of the schools we score, 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 |
| Average 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 first number you'll see is the sticker price: $9,476/year ($27,247/year out-of-state), which covers tuition and fees only. The net price counts books, supplies, and average living costs on top of tuition and fees, then subtracts grants and scholarships. For the average student here it comes to $9,873/year, or roughly $39,492 over four years. That's the number to plan around.
What you actually pay depends a lot on what your family earns. Families making under $30,000/year pay an average of $5,136/year here, while families earning over $110,000 pay $13,464/year.
Among graduates who borrowed, the median federal loan debt from this school is $19,085, which works out to about $202 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($49,000) and comes to 0.39, which in our view is comfortably manageable.
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 average 6-year earnings, the ROI case for completers is outstanding. 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.
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.
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. 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 | Median of schools we score |
|---|---|---|
| 1-year repayment | 84.6% | 68.8% |
| 3-year repayment | 88.2% | 73.6% |
| 5-year repayment | 82.5% | 67.7% |
| 7-year repayment | 84.8% | 72.8% |
Completion Rate
Trends Over Time
How New Mexico Institute of Mining and Technology’s cost and outcomes have moved across College Scorecard releases (2009-2024).
Average Net Price
Completion Rate
Median Earnings, 10 Years After Entry (as reported)
Earnings reflect borrowers measured 10 years after entry and publish on an irregular cadence with a multi-year reporting lag, so this series shows only the years the Department of Education reported - the data is never interpolated.
Source: U.S. Department of Education College Scorecard, release years shown. Net price and completion are reported annually.
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 ROI score is 89 at under $10,000 net price.
| 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 | 18 | $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 a small school 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
For most students, New Mexico Institute of Mining and Technology pays off. You'd pay about $9,873 a year after aid ($39,492 over four years), and the typical graduate earns $76,489 ten years after enrollment. That puts the payback - the time it takes for the earnings bump to cover what you spent - at roughly 4.3 years, a solid return.
What it has going for it: a strong earnings premium over high school graduates, manageable debt relative to earnings, high loan repayment success.
Median debt of $19,085 among graduates who borrowed, against average earnings of $49,000 six years after entry, gives a debt-to-earnings ratio of 0.39, under the 1.0 point at which debt would equal a full year of those earnings. Your major matters a lot here: graduates in higher-earning fields will see the better end of this.
New Mexico Institute of Mining and Technology: Common Questions
Is New Mexico Institute of Mining and Technology worth it?
In our view, yes - for most students New Mexico Institute of Mining and Technology pays off. It scores 89/100 on our ROI scale. You'd pay about $9,873 a year after aid ($39,492 over four years), and the typical graduate earns $76,489 ten years after enrollment, so the cost takes roughly 4.3 years to earn back.
How much does New Mexico Institute of Mining and Technology cost after financial aid?
The average net price - the cost of attendance (tuition, fees, books, supplies and average living costs) minus grants and scholarships, for full-time, first-time students receiving federal aid - is about $9,873 a year, or roughly $39,492 over four years. Because it counts living costs, it can run above tuition alone. That is the number to plan around. Actual cost varies by family income, per the U.S. Department of Education's College Scorecard.
What do New Mexico Institute of Mining and Technology graduates earn?
The typical graduate earns about $76,489 ten years after enrolling, roughly $34,689 a year more than the median high-school graduate ($41,800, per NCES, 2022). That earnings gap is what has to cover the cost of the degree.
How long does it take to pay off New Mexico Institute of Mining and Technology?
We estimate the payback period - the time it takes for the earnings bump over a high-school graduate to cover what you spent - at about 4.3 years for New Mexico Institute of Mining and Technology. The median across the schools we track is about 12 years.
How much debt do New Mexico Institute of Mining and Technology graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $19,085, against average earnings of $49,000 six years after entry - a debt-to-earnings ratio of 0.39. In our view that is reasonable, though your major matters: higher-earning fields will see the better end of it.
What is the graduation rate at New Mexico Institute of Mining and Technology?
The six-year graduation rate is 57.0%. The national average for four-year schools is 64% (NCES, 2022). Completion is 15% of our ROI score, since a degree you don't finish rarely pays back.
NewsletterCollege decisions are better with data.
From CampusROI, when there is something worth acting on.
Rankings & Links
Guides & Tools
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.