New Mexico Military Institute

In 2017, tuition for full-time students at New Mexico Military Institute was $2,000 a year for in-state students and $8,880 a year for out-of-state students.

On average, colleges raise tuition about 3% each year.

Remember, the displayed price of tuition doesn't give you all the info you need to know how much you will actually have to pay for college. Many students pay far less than the total tuition after grants, scholarships, and tuition discounts are awarded. And, student loans can make theactual cost of attending college more manageable until after graduation.

International students can expect to pay 15,920 per year for tuition at New Mexico Military Institute.

For information on New Mexico Military Institute's financial aid options for first-year students, check with the school directly.

The average student debt for graduates in the class of 2023 was around $8,152 per student, not including those with no debt.

In-state vs. Out-of-state Tuition at New Mexico Military Institute

New Mexico Military Institute is a public, state institution, so it offers a reduced tuition rate of $2,000 for in-state students who attend full-time.Non-New Mexico residents can expect to pay 8,880 per year for tuition.

Public colleges and universities receive funding from the state government. Public, state schools can offer lower tuition for students who meet the requirements for in-state residency.

Choosing a college where you are eligible for the reduced tuition offered to state residentscan save significant money on the overall cost of college. Don't forget to confirm your state's requirements for as an in-state resident. Each state has different requirements to qualify as in-state resident. The most common requirement is that students must have lived in the state for a full year before starting school. There may be other criteria too, depending on the state you and your parents currently live in.

Explore other New Mexico colleges

Do International Students Pay More to Go to New Mexico Military Institute?

New Mexico Military Institute has the same tuition for international students as for those from out of state.

International students at New Mexico Military Institute can expect to pay around $15,920 per year, before any scholarships or financial aid.

Students from outside of the U.S. usually do not qualify for for loans or grants from the U.S. government, but should research private or New Mexico Military Institute-specific grants, scholarships, and other funding opportunities. International students with need may be eligible for the following types of financial support at New Mexico Military Institute:

•On-campus jobs •New Mexico Military Institute-specific scholarships

International students without financial need may be eligible for merit-based institutional scholarships and athletic awards.

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New Mexico Military Institute Room, Board, Fees, and More

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In addition to tuition, room and board, books, transportation and fees are also costs it consider when budgeting for college. Let's take a look at what impacts these costs, and what to expect at New Mexico Military Institute.

House and Food Costs at New Mexico Military Institute

Room and board at New Mexico Military Institute costs $6,531 a year. This includes the cost of living in dorms or other on-campus housing, and a dining plan that enables you to eat all or some of your meals the New Mexico Military Institute's on-campus cafeterias and dining halls. Students who live off campus but would like to be able to eat in the campus dining can choose to be on a meal plan. The cost of a mean plan, or board-only, is $1,816.

Meal-plan costs vary based on on how many meals are included in the plan you choose.

Cost of Books at New Mexico Military Institute

The cost of books often surprises first-year college students. The actual cost of books depends on the courses you take and the textbooks, computer programs, or other materials are required.. To save money, many students choose to use books from the library or buy books from students who have already taken the course.

Yearly Fees

The majority of colleges charge some yearly fees to help cover the cost of facilties, like the library, gym and computer labs.

Keep in mind, there could also be other costs associated with participating in special activities, like joining a fraternity or sorority, or participating in sports or other extracurriculars. Most colleges have ways so that those who may struggle to participate because of cost can get help covering these fees.

The Cost of Transportation at New Mexico Military Institute

The cost of transportation in college depends on a few key factors. Will you drive, fly, or take public transportation to school? Is on-campus parking free, or will you need to budget for parking? Is the campus small enough that you can easily walk from class-to-class?? Do you plan to bring a car or are you planning to use busses, subways, or other modes of transportation? All of these questions can make a big difference in your estimated cost of transportation.

The location of a college or university can impact transportation costs. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the other hand getting around in a city may be expensive, but cities may offer more buses, trains and low-cost flight options to actually get to school. The New Mexico Military Institute campus is located in a town in New Mexico.

Other Costs

When creating a budget for college, be sure to take into account the cost of things like movies, takeouts, furniture or appliances for your dorm or housing, and essentials like laundry detergent, toothpaste and toilet paper.

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Total Tuition and Expenses at New Mexico Military Institute

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Now, let’s do a rundown of all of the costs associated with college, to get a better idea of what is really costs to go to New Mexico Military Institute.

How Much Does New Mexico Military Institute Cost?

What will the cost of attending New Mexico Military Institute be? Here is a breakdown of tuition and expenses.

2023 Total Tuition and Expenses
In-state Tuition	$2,000
Out-of-State Tuition	$8,880
Room and Board	$6,531
Board Only	$4,715

The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.

Tuition and fees may vary depending on program, course level, location, and more.

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New Mexico Military Institute Financial Aid

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Around 42% of New Mexico Military Institute undergrads take out student loans to cover any remaining costs. New Mexico Military Institute graduates who have student loans graduate with an average of $8,152 of student loan debt.

The average debt for each loan type varies.

Average Debt By Loan Type
Federal Loans	$8,152
Private Loans	$0

Most Common Loans for New Mexico Military Institute Students
Federal Loans	42%

Most students take out institutional or government loans, because they tend to have lower interest rates and more flexible repayment options than private loans. Loans from the federal government can be subsidized or unsubsidized. Subsidized loans do not accrue interest during school, while unsubsidized loans begin accruing interest at the time the loan is issued. If students do no qualify for enough federal loans to cover the cost of tuition, some take out private loans. Parents can also take out ParentPLUS loans, which are government loans for parents who are helping their children pay for college.

The Free Application for Federal Student Aid (FAFSA) helps colleges determine how much financial need students and their familes have, so they can offer a financial aid package that meets, or come close to meeting, their need. For more information on New Mexico Military Institute financial aid, keep reading, or visit their financial aid website.

Scholarships at New Mexico Military Institute

Some students may receive grants and scholarships to help pay for college. Unlike loans, scholarships and grants do not have to be paid back.

In 2023, a total of $1.7 million was awarded in need-based scholarships.

Net Cost of New Mexico Military Institute

The net price of college is the actual cost of attending a school for one year. Net cost is calculated by subtracting any scholarships, grants or other aid that does not need to be paid back from the total cost. Student loans are not part of the calculation, because they need to be repaid.

Now that we have a sense of the total estimated costs for New Mexico Military Institute students, we can subtract the average financial aid package to find the estimated net cost. Net cost can vary depending on a students’ need and the financial aid award received.

When considering whether a school fits your budget, it is important to consider the estimated net cost, not just the sticker price of tuition. Often, schools with the highest tuition also offer the most generous aid packages, so estimate your net cost before eliminating a school because it does fit your budget.

By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of New Mexico Military Institute seem more manageable.

What will attending New Mexico Military Institute really cost you? The answer depends on several factors.

As of 2011, colleges are required to have a net price calculator on their website to help prospective students and their families get a better idea of the actual cost of attending that school, based on their financial situation. You can find the New Mexico Military Institute's net cost calculator on their website.

New Mexico Military Institute Tuition Payment Plans

Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.

New Mexico Military Institute does not have guaranteed tuition.

New Mexico Military Institute offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.

Does New Mexico Military Institute Offer Tuition Waivers?

Schools sometimes offer tuition waivers to certain groups, to reduce the total cost of attendance. Some colleges offer tuition waivers for faculty, staff, and their families , underrepresented students, or military students. Even if you qualify for a waiver, students are usually responsible for housing, meal plans, and other expenses.

Check the financial aid website for more information on payment plans and tuition waivers.

New Mexico Military Institute's Endowment

An endowment is the total value of a school's investments, donations, and assets. Endowment is not necessarily an indicator of the quality of a school, but it can give you a sense of how much money a college can afford to invest in expanding programs, improving facilities, and supporting students.

As of 2017, the total market value of New Mexico Military Institute's endowment was $370.9 million. The average college endowment was $905 million in 2021.

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Learn More About New Mexico Military Institute

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