New Mexico Institute of Mining and Technology

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2020 Undergraduate Tuition
$7,031
3% growth from 2019
2020 Average Net Price
$14,834
After Financial Aid
2018 Student Loan
6.07%
Default Rate
2020 Acceptance Rate
96.6%
1,754 Applicants
2020 Enrolled Students
1,686
78.9% Full-Time
2020 Graduation Rate
54.1%
146 Graduates

About

New Mexico Institute of Mining and Technology is a higher education institution located in Socorro County, NM. In 2016, the most popular Bachelor's Degree concentrations at New Mexico Institute of Mining and Technology were Mechanical Engineering (77 degrees awarded), Computer Science (43 degrees), and Electrical & Electronics Engineering (32 degrees).

In 2020, 387 degrees were awarded across all undergraduate and graduate programs at New Mexico Institute of Mining and Technology. 31.5% of these degrees were awarded to women, and 68.5% awarded men. The most common race/ethnicity group of degree recipients was white (191 degrees), 1.71 times more than then the next closest race/ethnicity group, hispanic or latino (112 degrees).

The median undergraduate tuition at New Mexico Institute of Mining and Technology is $7,031, which is $−15,499 less than the national average for Masters Colleges and Universities ($22,531).

Costs

The median undergraduate tuition at New Mexico Institute of Mining and Technology is $7,031, which is $−15,499 less than the national average for Masters Colleges and Universities ($22,531).

After taking grants and loans into account, the average net price for students is $14,834.

In 2020, 78% of undergraduate students attending New Mexico Institute of Mining and Technology received financial aid through grants. Comparatively, 46% of undergraduate students received financial aid through loans.

Student Expenses

Tuition Costs

$7,031
2020 Undergraduate Tuition

In 2020, 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 $−15,499 less than than the overall (public and private) national average for Masters Colleges and Universities ($22,531).

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Average Net Price

$14,834
2020 Value
0.496%
1 Year Growth

In 2020 New Mexico Institute of Mining and Technology had an average net price — the price paid after factoring in grants and loans — of $14,834. Between 2019 and 2020, the average net price of New Mexico Institute of Mining and Technology grew by 0.496%.

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.

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Other Student Expenses

$8,624
Room and Board
$1,150
Books and Supplies

The average yearly cost of room and board at New Mexico Institute of Mining and Technology was of $8,624 in 2020. During the same period, the average yearly cost of books and supplies was $1,150. The cost of room and board increased by 1.34% between 2019 and 2020. The cost of books and supplies increased by 1.77% during the same period.

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Financial Aid

Financial Aid by Income Level

78%
Undergraduates Receiving Financial Aid through Grants
46%
Undergraduates Receiving Financial Aid through Loans

78% of undergraduate students at New Mexico Institute of Mining and Technology received financial aid through grants or loans in 2020. This represents a growth of 4% with respect to 2019, when 75% 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.

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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.
6.07%
2018 Default Rate
17
Number of Defaults

In 2018 the default rate for borrower's at New Mexico Institute of Mining and Technology was 6.07%, which represents 17 out of the 280 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.

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Admissions

New Mexico Institute of Mining and Technology received 1,754 undergraduate applications in 2020, which represents a 53.5% annual growth. Out of those 1,754 applicants, 1,694 students were accepted for enrollment, representing a 96.6% acceptance rate.

There were 1,686 students enrolled at New Mexico Institute of Mining and Technology in 2020, and 38% of first-time enrollees submitted SAT scores with their applications.

New Mexico Institute of Mining and Technology has an overall enrollment yield of 16.8%, which represents the number of admitted students who ended up enrolling.

Acceptance Rate

96.6%
Acceptance Rate in 2020
1,694
Accepted Out of 1,754

In 2020, the undergraduate acceptance rate of New Mexico Institute of Mining and Technology was 96.6% (1,694 admissions from 1,754 applications). This is higher than the acceptance rate of 2019, which was 79.8%. Between 2019 and 2020, the number of applicants grew by 53.5%, while admissions grew by 85.7%.

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SAT Scores

38%
Submission Percentage
108
Scores Submitted

38% of enrolled first-time students at New Mexico Institute of Mining and Technology in 2020 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.

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Enrollment

New Mexico Institute of Mining and Technology has a total enrollment of 1,686 students. The full-time enrollment at New Mexico Institute of Mining and Technology is 1,330 students and the part-time enrollment is 356. This means that 78.9% 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 54% White, 24.8% Hispanic or Latino, 4.74% Asian, 4.27% Two or More Races, 3.08% American Indian or Alaska Native, 2.08% Black or African American, and 0.119% 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 (41.4%), followed by Hispanic or Latino Male (18.8%) and White Female (14.5%). Students enrolled in full-time Graduate programs are most commonly White Male (31.7%), followed by White Female (15%) and Hispanic or Latino Male (7.93%).

Full-Time vs Part-Time Enrollment

78.9%
Full-Time Enrollment

The total enrollment at New Mexico Institute of Mining and Technology, both undergraduate and graduate, is 1,686 students. The full-time enrollment at New Mexico Institute of Mining and Technology is 1,330 and the part-time enrollment is 356. This means that 78.9% of students enrolled at New Mexico Institute of Mining and Technology are enrolled full-time compared with 68.8% 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.

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Retention Rate over Time

81%
2020 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 81%. Compared with the full-time retention rate at similar Masters Colleges and Universities (75%), 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.

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Enrollment by Race & Ethnicity

Most Common Race or Ethnicity
  1. White
    911
  2. Hispanic or Latino
    418
  3. Asian
    80

The enrolled student population at New Mexico Institute of Mining and Technology is 54% White, 24.8% Hispanic or Latino, 4.74% Asian, 4.27% Two or More Races, 3.08% American Indian or Alaska Native, 2.08% Black or African American, and 0.119% 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 52.6% White, 16.6% 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, 36 students (2.14%) did not report their race.

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Graduates

In 2020, 143 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 (191 degrees awarded). There were 1.71 times more white graduates than the next closest race/ethnicity group, hispanic or latino (112 degrees).

The most common Bachelor's Degree concentration at New Mexico Institute of Mining and Technology is Mechanical Engineering (77 degrees awarded), followed by Computer Science (43 degrees) and Electrical & Electronics Engineering (32 degrees).

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 (216 degrees awarded), Physical Sciences (57 degrees), and Math & Statistics (12 degrees).

Workforce

Common Jobs by Major

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 (873,308 people), Other managers (528,780 people), Physicians (471,325 people), Miscellaneous engineers, including nuclear engineers (366,945 people), and Postsecondary teachers (313,257 people).

The most specialized majors at New Mexico Institute of Mining and Technology are Engineering (216 degrees awarded), Physical Sciences (57 degrees), Math & Statistics (12 degrees), Computer and Information Sciences and Support Services (53 degrees), and Biology (25 degrees).

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Highest Paying Jobs by Major

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, Magnetic resonance imaging technologists, Securities, commodities, & financial services sales agents, Physicians, and Derrick, rotary drill, & service unit operators, & roustabouts, oil, gas, & mining

The most specialized majors at New Mexico Institute of Mining and Technology are Engineering (216 degrees awarded), Physical Sciences (57 degrees), Math & Statistics (12 degrees), Computer and Information Sciences and Support Services (53 degrees), and Biology (25 degrees).

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Common Industries by Major

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 (1,002,239 people), Colleges, universities & professional schools, including junior colleges (634,876 people), General medical and surgical hospitals, and specialty (except psychiatric and substance abuse) hospitals (604,083 people), Architectural, engineering & related services (493,735 people), and Elementary & secondary schools (382,840 people).

The most specialized majors at New Mexico Institute of Mining and Technology are Engineering (216 degrees awarded), Physical Sciences (57 degrees), Math & Statistics (12 degrees), Computer and Information Sciences and Support Services (53 degrees), and Biology (25 degrees).

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Degrees

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
  1. 77 degree-majorss awarded
  2. 43 degree-majorss awarded
  3. 32 degree-majorss awarded

In 2020, the most common bachelors degree concentration at New Mexico Institute of Mining and Technology was Mechanical Engineering with 77 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.

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Sex Breakdown for Common Majors

265
Degrees Awarded to Men
in 2020
122
Degrees Awarded to Women
in 2020

In 2020, 265 degrees were awarded to men at New Mexico Institute of Mining and Technology, which is 2.17 times more than the number of degrees awarded to females (122).

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

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Most Common Male Majors

In 2020, 74 degrees were awarded to men at New Mexico Institute of Mining and Technology in Mechanical Engineering, which is 5.29 times more than the 14 female recipients with that same degree.

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Most Common Female Majors

In 2020, 14 degrees were awarded to women at New Mexico Institute of Mining and Technology in Mechanical Engineering, which is 0.189 times less than the 74 male recipients with that same degree.

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Time to Complete

24%
100% Completion Time
56%
150% Completion Time

In 2020, 24% 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, 56% 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.

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Diversity

Graduation Rate by Race and Sex

Showing demographic groups with ≥ 5 graduating students.
Asian Female
Highest Graduation Rate (100%)

The student demographic with the highest graduation rate at New Mexico Institute of Mining and Technology is Female and Asian (100% graduation rate). Across all Masters Colleges and Universities, Asian Female students have the highest graduation rate (72.4%).

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, 5.48% of graduates (8 students) did not report their race.

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Race & Ethnicity by Share

Most Common Student Race or Ethnicity
  1. White
    191 degrees awarded
  2. Hispanic or Latino
    112 degrees awarded
  3. Two or More Races
    14 degrees awarded

The most common race/ethnicity at New Mexico Institute of Mining and Technology is white (191 degrees awarded). There were 1.71 times more white recipients than the next closest race/ethnicity group, hispanic or latino (112 degrees).

2.07% of degree recipients (8 students) did not report their race.

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Race & Ethnicity by Sex

Most Common Sex Demographic
  1. White Male
    131 degrees awarded
  2. Hispanic or Latino Male
    74 degrees awarded
  3. White Female
    60 degrees awarded

The most common race/ethnicity and sex grouping at New Mexico Institute of Mining and Technology is white male (131 degrees awarded). There were 1.77 times more white male recipients than the next closest race/ethnicity group, hispanic or latino male (74 degrees).

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Operations

New Mexico Institute of Mining and Technology has an endowment valued at nearly $61.1M, as of the end of the 2020 fiscal year. The return on its endowment was of $389k (0.637%), compared to the 3.19% average return ($1.26M on $39.6M) across all Masters Colleges and Universities.

In 2020, New Mexico Institute of Mining and Technology had a total salary expenditure of $108M. New Mexico Institute of Mining and Technology employs 41 Associate professors, 40 Assistant professors, and 39 Professors. Most academics at New Mexico Institute of Mining and Technology are Male Associate professors (35), Male Professors(30), and Male Assistant professors (30).

The most common positions for non-instructional staff at New Mexico Institute of Mining and Technology are: Computer, Engineering, and Science, with 177 employees, Office and Administrative Support, with 130 employees, and Service with 87 employees.

Finances

Endowment

$61.1M
2020 Endowment
18.4%
growth from 2019

New Mexico Institute of Mining and Technology has an endowment valued at about $61.1M, as of the end of the 2020 fiscal year. The endowment of New Mexico Institute of Mining and Technology grew 18.4% from the previous year. The value of their endowment was $21.5M 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.

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Government Grants and Contracts

Grants & Contracts
  1. $41M - Federal
  2. $1.65M - State
  3. $0 - Local

As of 2020, New Mexico Institute of Mining and Technology received $41M in grants and contracts from the federal government, $1.65M from state grants and contracts, and $0 from local grants and contracts.

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Expenses

Salary Expenditure

$45.1M
2020 Salaries
7.55%
growth from 2019

In 2020, New Mexico Institute of Mining and Technology paid a median of $45.1M in salaries, which represents 41.9% of their overall expenditure ($108M) and a 7.55% growth from the previous year. This is compared to a 2.93% growth from 2018 and a 2.12% growth from 2017.

The median for similar Masters Colleges and Universities is 34.6M (40.9% of overall expenditures).

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Instructional Salaries

$10.8M
Instructional Salaries
135
Number of Employees

In 2020, New Mexico Institute of Mining and Technology paid a total of $10.8M to 135 employees working as instructors, which represents 23.9% of all salaries paid.

This is compared to a median of $11M (31.8%) for similar Masters Colleges and Universities.

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Faculty and Staff

Occupations by Share

Associate professor
Most Common Instructor
41 Employees
Computer, Engineering, and Science
Most Common Non-Instructional Employee
177 Employees

In 2020, the most common positions for instructional staff at New Mexico Institute of Mining and Technology were Associate professor with 41 employees; Assistant professor with 40 employees; and Assistant professor with 39 employees.

In 2020, the most common positions for non-instructional staff at New Mexico Institute of Mining and Technology were Computer, Engineering, and Science with 177 employees; Office and Administrative Support with 130 employees; and Service with 87 employees.

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Instructors by Academic Rank and Sex

Most Common Demographic
  1. Male Associate professor
  2. Male Professor
  3. Male Assistant professor

In 2020, the most common demographic for instructional staff at New Mexico Institute of Mining and Technology was Male Associate professor with 35 employees, Male Professor with 30 employees, and Male Assistant professor with 30 employees.

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

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