New Mexico Institute of Mining and Technology

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2017 Undergraduate Tuition

$6,133

5% growth from 2016

2017 Average Net Price

$13,741

After Financial Aid

2016 Student Loan

5.6%

Default Rate

2017 Acceptance Rate

21.7%

1,513 Applicants

2017 Enrolled Students

2,009

75.2% Full-Time

2017 Graduation Rate

47.2%

153 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 (54 degrees awarded), Petroleum Engineering (46 degrees), and Electrical & Electronics Engineering (31 degrees).

In 2017, 408 degrees were awarded across all undergraduate and graduate programs at New Mexico Institute of Mining and Technology. 34.1% of these degrees were awarded to women, and 65.9% awarded men. The majority of degree recipients were white (228 degrees), 2.53 times more than then the next closest race/ethnicity group, hispanic or latino (90 degrees).

The median undergraduate tuition at New Mexico Institute of Mining and Technology is $6,133, which is $-14,600 less than the national average for Masters Colleges and Universities ($20,733).

Masters Colleges & Universities: Small Programs Masters Colleges and Universities

Costs

The median undergraduate tuition at New Mexico Institute of Mining and Technology is $6,133, which is $-14,600 less than the national average for Masters Colleges and Universities ($20,733).

After taking grants and loans into account, the average net price for students is $13,741.

In 2017, 73% of undergraduate students received federal grants, while 47% of undergraduate students received federal loans.

Student Expenses

Tuition Costs

$6,133

2017 Undergraduate Tuition

In 2017, the cost of tuition at New Mexico Institute of Mining and Technology was $6,133. The cost of tuition at New Mexico Institute of Mining and Technology is $-14,600 less than than the overall (public and private) national average for Masters Colleges and Universities ($20,733).

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

$13,741

2017 Value

3.08%

1 Year Growth

In 2017 New Mexico Institute of Mining and Technology had an average net price — the price paid after factoring in grants and loans — of $13,741. Between 2016 and 2017, the average net price of New Mexico Institute of Mining and Technology grew by 3.08%.

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

$7,942

Room and Board

$1,078

Books and Supplies

The average yearly cost of room and board at New Mexico Institute of Mining and Technology was of $7,942 in 2017. During the same period, the average yearly cost of books and supplies was $1,078. The cost of room and board increased by 4.69% between 2016 and 2017. The cost of books and supplies increased by 1.13% 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

Financial Aid by Income Level

73%

Of Undergraduates Receive Grants

47%

Of Undergraduates Receive Federal Loans

73% of undergraduate students at New Mexico Institute of Mining and Technology received grants or loans in 2017. This represents a growth of 0% with respect to 2016, when 73% 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.

5.6%

2016 Default Rate

Number of Defaults

In 2016 the default rate for borrower's at New Mexico Institute of Mining and Technology was 5.6%, which represents 14 out of the 250 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 1,513 undergraduate applications in 2017, which represents a 9.02% annual decline. Out of those 1,513 applicants, 328 students were accepted for enrollment, representing a 21.7% acceptance rate.

There were 2,009 students enrolled at New Mexico Institute of Mining and Technology in 2017, and 26% of first-time enrollees submitted SAT scores with their applications.

New Mexico Institute of Mining and Technology has an overall enrollment yield of 73.2%, which represents the number of admitted students who ended up enrolling.

Acceptance Rate

21.7%

Acceptance Rate in 2017

328

Accepted Out of 1,513

In 2017, the undergraduate acceptance rate of New Mexico Institute of Mining and Technology was 21.7% (328 admissions from 1,513 applications). This is lower than the acceptance rate of 2016, which was 23.5%. Between 2016 and 2017, the number of applicants declined by -9.02%, while admissions declined by -15.9%.

This chart compares the acceptance rate of New Mexico Institute of Mining and Technology (in red) with that of other similar universities.

SAT Scores

26%

Submission Percentage

Scores Submitted

26% of enrolled first-time students at New Mexico Institute of Mining and Technology in 2017 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.

Enrollment

New Mexico Institute of Mining and Technology has a total enrollment of 2,009 students. The full-time enrollment at New Mexico Institute of Mining and Technology is 1,510 students and the part-time enrollment is 499. This means that 75.2% 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 52.6% White, 25.6% Hispanic or Latino, 4.13% Two or More Races, 4.03% Asian, 3.38% American Indian or Alaska Native, 1.54% Black or African American, and 0.0498% Native Hawaiian or Other Pacific Islanders.

Students enrolled at New Mexico Institute of Mining and Technology in full-time Undergraduate programs are majority White Male (39.8%), followed by Hispanic or Latino Male (20.7%) and White Female (12.6%). Students enrolled in full-time Graduate programs are majority White Male (30.1%), followed by White Female (13%) and Hispanic or Latino Male (6.48%).

Full-Time vs Part-Time Enrollment

75.2%

Full-Time Enrollment

The total enrollment at New Mexico Institute of Mining and Technology, both undergraduate and graduate, is 2,009 students. The full-time enrollment at New Mexico Institute of Mining and Technology is 1,510 and the part-time enrollment is 499. This means that 75.2% of students enrolled at New Mexico Institute of Mining and Technology are enrolled full-time compared with 68.6% 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

74%

2017 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 74%. 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 lower 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

White
1,057
Hispanic or Latino
515
Two or More Races
83

The enrolled student population at New Mexico Institute of Mining and Technology is 52.6% White, 25.6% Hispanic or Latino, 4.13% Two or More Races, 4.03% Asian, 3.38% American Indian or Alaska Native, 1.54% Black or African American, and 0.0498% 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 54.4% White, 15% Hispanic or Latino, and 13.2% 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, 47 students (2.34%) did not report their race.

Graduates

In 2017, 130 fewer women than men received degrees from New Mexico Institute of Mining and Technology. The majority of degree recipients at New Mexico Institute of Mining and Technology are white (228 degrees awarded). There were 2.53 times more white graduates than the next closest race/ethnicity group, hispanic or latino (90 degrees).

The most common Bachelor's Degree concentration at New Mexico Institute of Mining and Technology is Mechanical Engineering (54 degrees awarded), followed by Petroleum Engineering (46 degrees) and Electrical & Electronics Engineering (31 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 (246 degrees awarded), Physical Sciences (63 degrees), and Math & Statistics (13 degrees).

Workforce

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 (834,259 people), Other managers (539,448 people), Physicians (486,631 people), Miscellaneous engineers, including nuclear engineers (351,931 people), and Postsecondary teachers (312,068 people).

The most specialized majors at New Mexico Institute of Mining and Technology are Engineering (246 degrees awarded), Physical Sciences (63 degrees), Math & Statistics (13 degrees), Biology (30 degrees), and Computer and Information Sciences and Support Services (19 degrees).

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, Magnetic resonance imaging technologists, Chemists & materials scientists, Dentists, and Securities, commodities, & financial services sales agents

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 (968,871 people), Colleges, universities & professional schools, including junior colleges (651,939 people), General medical and surgical hospitals, and specialty (except psychiatric and substance abuse) hospitals (621,724 people), Architectural, engineering & related services (477,187 people), and Elementary & secondary schools (387,854 people).

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

Mechanical Engineering
54 degree-majorss awarded
Petroleum Engineering
46 degree-majorss awarded
Electrical & Electronics Engineering
31 degree-majorss awarded

In 2017, the most common bachelors degree concentration at New Mexico Institute of Mining and Technology was Mechanical Engineering with 54 degree-majorss 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.

Gender Breakdown for Common Majors

Degrees Awarded to Men

In 2017, 269 degrees were awarded to men at New Mexico Institute of Mining and Technology, which is 1.94 times more than the number of degrees awarded to females (139).

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

Most Common Male Majors

In 2017, 60 degrees were awarded to men at New Mexico Institute of Mining and Technology in Mechanical Engineering, which is 4.62 times more than the 13 female recipients with that same degree.

Most Common Female Majors

In 2017, 20 degrees were awarded to women at New Mexico Institute of Mining and Technology in General Biological Sciences, which is 2 times more than the 10 male recipients with that same degree.

Time to Complete

20%

100% Completion Time

49%

150% Completion Time

In 2017, 20% 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, 49% completed their degrees within 150% of the normal time, and 54% 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.

Diversity

Graduation Rate by Race and Gender

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 (68.1%).

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% of graduates (0 students) did not report their race.

Race & Ethnicity by Share

Most Common Student Race or Ethnicity

White
228 degrees awarded
Hispanic or Latino
90 degrees awarded
Two or More Races
19 degrees awarded

The most common race/ethnicity at New Mexico Institute of Mining and Technology is white (228 degrees awarded). There were 2.53 times more white recipients than the next closest race/ethnicity group, hispanic or latino (90 degrees).

0.49% of degree recipients (2 students) did not report their race.

Race & Ethnicity by Gender

Most Common Gender Demographic

White Male
160 degrees awarded
White Female
68 degrees awarded
Hispanic or Latino Male
53 degrees awarded

The most common race/ethnicity and gender grouping at New Mexico Institute of Mining and Technology is white male (160 degrees awarded). There were 2.35 times more white male recipients than the next closest race/ethnicity group, white female (68 degrees).

Operations

New Mexico Institute of Mining and Technology has an endowment valued at nearly $45M, as of the end of the 2017 fiscal year. The return on its endowment was of $504k (1.12%), compared to the 6.94% average return ($2.3M on $33.1M) across all Masters Colleges and Universities.

In 2017, New Mexico Institute of Mining and Technology had a total salary expenditure of $143M. New Mexico Institute of Mining and Technology employs 44 Assistant professors, 42 Professors, and 38 Associate professors. Most academics at New Mexico Institute of Mining and Technology are Male Professors (35), Male Associate professors(33), and Male Assistant professors (31).

The most common positions for non-instructional staff at New Mexico Institute of Mining and Technology are: Computer, Engineering, and Science, with 153 employees, Office and Administrative Support, with 104 employees, and Natural Resources, Construction, and Maintenance with 76 employees.

Finances

Endowment

$45M

2017 Endowment

9.27%

growth from 2016

New Mexico Institute of Mining and Technology has an endowment valued at about $45M, as of the end of the 2017 fiscal year. The endowment of New Mexico Institute of Mining and Technology grew 9.27% from the previous year. The value of their endowment was $11.9M 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.

Government Grants and Contracts

Grants & Contracts

$39.8M - Federal
$2.56M - State
$0 - Local

As of 2017, New Mexico Institute of Mining and Technology received $39.8M in grants and contracts from the federal government, $2.56M from state grants and contracts, and $0 from local grants and contracts.

Expenses

Salary Expenditure

$39.9M

2017 Salaries

1.01%

decline from 2016

In 2017, New Mexico Institute of Mining and Technology paid a median of $39.9M in salaries, which represents 27.9% of their overall expenditure ($143M) and a 1.01% decline from the previous year. This is compared to a 2.85% growth from 2015 and a 0.239% growth from 2014.

The median for similar Masters Colleges and Universities is 31.4M (40.5% of overall expenditures).

Instructional Salaries

$9.99M

Instructional Salaries

133

Number of Employees

In 2017, New Mexico Institute of Mining and Technology paid a total of $9.99M to 133 employees working as instructors, which represents 25% of all salaries paid.

This is compared to a median of $10.4M (33%) for similar Masters Colleges and Universities.

Faculty and Staff

Occupations by Share

Assistant professor

Most Common Instructor

44 Employees

Computer, Engineering, and Science

Most Common Non-Instructional Employee

153 Employees

In 2017, the most common positions for instructional staff at New Mexico Institute of Mining and Technology were Assistant professor with 44 employees; Professor with 42 employees; and Professor with 38 employees.

In 2017, the most common positions for non-instructional staff at New Mexico Institute of Mining and Technology were Computer, Engineering, and Science with 153 employees; Office and Administrative Support with 104 employees; and Natural Resources, Construction, and Maintenance with 76 employees.

Instructors by Academic Rank and Gender

Most Common Demographic

Male Professor
Male Associate professor
Male Assistant professor

In 2017, the most common demographic for instructional staff at New Mexico Institute of Mining and Technology was Male Professor with 35 employees, Male Associate professor with 33 employees, and Male Assistant professor with 31 employees.

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

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