New Mexico Institute of Mining and Technology

https://www.nmt.edu

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2024 Undergraduate Tuition

$7,894

3% growth from 2023

2024 Average Net Price

$11,551

After Financial Aid

2024 Acceptance Rate

44.5%

1,544 Applicants

2024 Enrolled Students

1,622

75.7% Full-Time

2024 Graduation Rate

57%

174 Graduates

About

New Mexico Institute of Mining and Technology is a higher education institution located in Socorro County, NM. In 2024, the most popular Bachelors Degree concentrations at New Mexico Institute of Mining and Technology were Mechanical Engineering (65 degrees awarded), Electrical & Electronics Engineering (23 degrees), and Computer Science (22 degrees).

In 2024, 318 degrees were awarded across all undergraduate and graduate programs at New Mexico Institute of Mining and Technology. 30.5% of these degrees were awarded to women, and 69.5% awarded men. The most common race/ethnicity group of degree recipients was white (137 degrees), 1.32 times more than then the next closest race/ethnicity group, hispanic or latino (104 degrees).

The median undergraduate tuition at New Mexico Institute of Mining and Technology is $7,894, which is $−16,106 less than the national average for Masters Colleges and Universities ($24,000).

Masters Colleges & Universities: Small Programs Masters Colleges and Universities

Costs

In 2024, the median undergraduate tuition at New Mexico Institute of Mining and Technology is $7,894, which is $16,106 less than the national average for Masters Colleges and Universities ($24,000).

After taking grants and loans into account, the average net price for students is $11,551.

In 2024, 82% of undergraduate students attending New Mexico Institute of Mining and Technology received financial aid through grants. Comparatively, 31% of undergraduate students received financial aid through loans.

Tuition Costs

$7,894

2024 Undergraduate Tuition

In 2024, the cost of tuition at New Mexico Institute of Mining and Technology was $7,894. The cost of tuition at New Mexico Institute of Mining and Technology is $−16,106 less than than the overall (public and private) national average for Masters Colleges and Universities ($24,000).

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

$11,551

2024 Value

26.5%

1 Year Growth

In 2024 New Mexico Institute of Mining and Technology had an average net price — the price paid after factoring in grants and loans — of $11,551. Between 2023 and 2024, the average net price of New Mexico Institute of Mining and Technology grew by 26.5%.

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

$9,614

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 $9,614 in 2024. The cost of room and board increased by 15.4% between 2023 and 2024.

During the same period, the average yearly cost of books and supplies was $800. The cost of books and supplies did not change 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

82%

Undergraduates Receiving Financial Aid through Grants

31%

Undergraduates Receiving Financial Aid through Loans

82% of undergraduate students at New Mexico Institute of Mining and Technology received financial aid through grants or loans in 2024. This represents a decline of 5.75% with respect to 2023, when 87% 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.

Admissions

New Mexico Institute of Mining and Technology received 1,544 undergraduate applications in 2024, which represents a 38.8% annual growth. Out of those 1,544 applicants, 687 students were accepted for enrollment, representing a 44.5% acceptance rate.

There were 1,622 students enrolled at New Mexico Institute of Mining and Technology in 2024. 84% of first-time enrollees submitted SAT scores with their applications.

New Mexico Institute of Mining and Technology has an overall enrollment yield of 27.1%, which represents the number of admitted students who ended up enrolling.

Acceptance Rate

44.5%

Acceptance Rate in 2024

687

Accepted Out of 1,544

In 2024, the undergraduate acceptance rate of New Mexico Institute of Mining and Technology was 44.5% (687 admissions from 1,544 applications). This is lower than the acceptance rate of 2023, which was 54%. Between 2023 and 2024, the number of applicants grew by 38.8%, while admissions grew by 14.5%.

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

84%

Submission Percentage (2024)

155

Scores Submitted (2024)

84% of enrolled first-time students at New Mexico Institute of Mining and Technology in 2024 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 1,622 students in 2024. The full-time enrollment at New Mexico Institute of Mining and Technology is 1,228 students and the part-time enrollment is 394. This means that 75.7% 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 45.6% White, 32.6% Hispanic or Latino, 3.21% Two or More Races, 2.84% American Indian or Alaska Native, 2.71% Asian, 1.6% Black or African American, and 0.123% 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 (33.9%), followed by Hispanic or Latino Male (28.5%) and Hispanic or Latino Female (12.8%). Students enrolled in full-time Graduate programs are most commonly White Male (21.3%), followed by Hispanic or Latino Male (10.8%) and White Female (9.86%).

Full-Time vs Part-Time Enrollment

75.7%

Full-Time Enrollment

The total enrollment at New Mexico Institute of Mining and Technology in 2024, both undergraduate and graduate, is 1,622 students. The full-time enrollment at New Mexico Institute of Mining and Technology is 1,228 and the part-time enrollment is 394. This means that 75.7% of students enrolled at New Mexico Institute of Mining and Technology are enrolled full-time compared with 67.1% 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

77%

2024 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 77%. 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 (2024)

White
739 enrolled students
Hispanic or Latino
529 enrolled students
Two or More Races
52 enrolled students

The enrolled student population at New Mexico Institute of Mining and Technology is 45.6% White, 32.6% Hispanic or Latino, 3.21% Two or More Races, 2.84% American Indian or Alaska Native, 2.71% Asian, 1.6% Black or African American, and 0.123% 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 47.4% White, 18.8% Hispanic or Latino, and 13.6% 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 (0.925%) did not report their race.

Graduates

In 2024, 124 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 (137 degrees awarded). There were 1.32 times more white recipients than the next closest race/ethnicity group, hispanic or latino (104 degrees).

The most common Bachelor's Degree concentration at New Mexico Institute of Mining and Technology is Mechanical Engineering (65 degrees awarded), followed by Electrical & Electronics Engineering (23 degrees) and Computer Science (22 degrees).

In 2024, 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 (6 degrees awarded), Engineering (179 degrees), and Physical Sciences (39 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 (639,176 people), Other managers (515,777 people), Physicians (499,558 people), Miscellaneous engineers, including nuclear engineers (418,944 people), and Civil engineers (326,538 people).

The most specialized majors at New Mexico Institute of Mining and Technology in 2024 are Applied Sciences (6 degrees awarded), Engineering (179 degrees), Physical Sciences (39 degrees), Math & Statistics (14 degrees), and Biology (22 degrees) (as of 2024).

Highest Paying Jobs by Major

Surgeons

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, Cardiovascular technologists and technicians, Podiatrists, Magnetic resonance imaging technologists, and Physicians

The most specialized majors at New Mexico Institute of Mining and Technology are Applied Sciences (6 degrees awarded), Engineering (179 degrees), Physical Sciences (39 degrees), Math & Statistics (14 degrees), and Biology (22 degrees) (as of 2024).

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 (691,941 people), General medical and surgical hospitals, and specialty (except psychiatric and substance abuse) hospitals (649,035 people), Colleges, universities & professional schools, including junior colleges (635,958 people), Architectural, engineering & related services (538,044 people), and Construction (389,367 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.

General Studies

Most Common (2024)

1 degrees awarded

In 2024, the most common associates degree concentration at New Mexico Institute of Mining and Technology was General Studies with 1 degrees awarded.

This visualization illustrates the percentage of degree-majors recipients from associates degree programs at New Mexico Institute of Mining and Technology according to their major.

Sex Breakdown for Common Majors

221

Degrees Awarded to Men

in 2024

Degrees Awarded to Women

in 2024

In 2024, 221 degrees were awarded to men at New Mexico Institute of Mining and Technology, which is 2.28 times more than the number of degrees awarded to females (97).

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 2024, 66 degrees were awarded to men at New Mexico Institute of Mining and Technology in Mechanical Engineering, which is 4.4 times more than the 15 female recipients with that same degree.

Most Common Female Majors

In 2024, 15 degrees were awarded to men at New Mexico Institute of Mining and Technology in Mechanical Engineering, which is 0.227 times less than the 66 male recipients with that same degree.

Time to Complete

38%

100% Completion Time

55%

150% Completion Time

In 2024, 38% 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, 55% 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.

Race & Ethnicity by Share

Most Common Student Race or Ethnicity (2024)

White
137 degrees awarded
Hispanic or Latino
104 degrees awarded
American Indian or Alaska Native
11 degrees awarded

The most common race/ethnicity at New Mexico Institute of Mining and Technology is white (137 degrees awarded). There were 1.32 times more white recipients than the next closest race/ethnicity group, hispanic or latino (104 degrees).

0.943% of degree recipients (3 students) did not report their race.

Race & Ethnicity by Sex

Most Common Sex Demographic (2024)

White Male
164 degrees awarded
White Male
160 degrees awarded
White Male
150 degrees awarded

The most common race/ethnicity and sex grouping at New Mexico Institute of Mining and Technology is white male (164 degrees awarded). There were 1.02 times more white male recipients than the next closest race/ethnicity group, white male (160 degrees).

Operations

New Mexico Institute of Mining and Technology has an endowment valued at nearly $96.7M, as of the end of the 2024 fiscal year. The return on its endowment was of 11.5M (11.9%) compared to the 9.2% average return (4.22M on 45.9M) across all Masters Colleges and Universities.

In 2024, New Mexico Institute of Mining and Technology had a total salary expenditure of 174M. New Mexico Institute of Mining and Technology employs 45 Associate professors, 40 Professors and 36 Assistant professors. Most academics at New Mexico Institute of Mining and Technology are Male Associate professor (38), Male Professor (34), 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 118 employees, and Service with 81 employees.

Endowment

$96.7M

2024 Endowment

9.17%

growth from 2023

New Mexico Institute of Mining and Technology has an endowment valued at about $96.7M, as of the end of the 2024 fiscal year. The endowment of New Mexico Institute of Mining and Technology grew 9.17% from the previous year. The value of their endowment was $50.8M 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

$64.7M

2024 Salaries

23.1%

growth from 2023

In 2024, New Mexico Institute of Mining and Technology paid a median of $64.7M in salaries, which represents 37.2% of their overall expenditure ($174M) and a 23.1% growth from the previous year. This is compared to a 8.82% growth between 2022 and 2023, and a 5.27% growth between 2021 and 2022.

Instructional Salaries

$13.9M

Instructional Salaries

148

Number of Employees

In 2024, New Mexico Institute of Mining and Technology paid a total of $13.9M to 148 employees working as instructors, which represents 21.5% of all salaries paid.

This is compared to a median of $965k (3.13%) for similar Masters Colleges and Universities.

Occupations by Share

In 2024, 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 118 employees, and Service with 81 employees.

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