$2,435

Avg. Federal Grant

$2,713

Avg. Federal Loan

$2,120,350

Total Aid Awarded

New Mexico Junior College (NMJC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

39%

Total Aid Amount Average Total Aid Awarded per year.

$2.120M

Financial Aid Official Website

N/A

Notably, 76% of the students at New Mexico Junior College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $311,384. The total percentage of candidates applying to New Mexico Junior College who receive the Federal Grant is 71%. In comparison, 74% of the students are awarded the Student Grant, 49% get the Institution Grant, and 70% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $2,524, and the same stands at $800 for State Grant awardees and $1,382 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $2,309. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At NMJC, an estimated number of 11% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

55%

State Grant Aid

23%

Institution Grant Aid

26%

Pell Grant

53%

Average Aid Awarded

Federal Grant Aid

$2,435

State Grant Aid

$777

Institution Grant Aid

$1,657

Pell Grant

$2,519

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$3,635

$30,001 - $48,000

$1,003

$48,001 - $75,000

$995

$75,001 - $110,000

N/A

Over $110,000

N/A

Student Loans for New Mexico Junior College (NMJC)

Average Loan Amount Average Loan Amount received per year.

$2,713/Year

Students Taking Out Loans

8%

Loan Default Rate

15.5%

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