$4,076

Avg. Federal Grant

$2,512

Avg. Federal Loan

$4,136,421

Total Aid Awarded

Northern New Mexico College (NNMC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

86%

Total Aid Amount Average Total Aid Awarded per year.

$4.136M

Financial Aid Official Website

nnmc.edu/home/student-gateway/financial-aid/

Notably, 91% of the students at Northern New Mexico College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $452,769. One can visit NNMC's financial aid page at http://nnmc.edu/home/student-gateway/financial-aid/ for more information. At NNMC, the total percentage of applicants who receive the Federal Grant stands at 91%. Meanwhile, 91% of the applicants receive the Student Grant and 4% are awarded the Institution Grant, while 74% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,092, the State Grant receivers and Institution Grant beneficiaries get $2,911 and $1,055, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,305. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. However, student loans attract a certain rate of interest at which the funds are borrowed. Candidates are also required to repay these loans within a given period. At Northern New Mexico College, the percentage of candidates who opt to avail of student loans is around 2%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

90%

State Grant Aid

70%

Institution Grant Aid

10%

Pell Grant

79%

Average Aid Awarded

Federal Grant Aid

$4,076

State Grant Aid

$2,845

Institution Grant Aid

$1,705

Pell Grant

$4,603

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$5,542

$30,001 - $48,000

$5,056

$48,001 - $75,000

$2,100

$75,001 - $110,000

$2,722

Over $110,000

N/A

Student Loans for Northern New Mexico College (NNMC)

Average Loan Amount Average Loan Amount received per year.

$2,512/Year

Students Taking Out Loans

4%

Loan Default Rate

13.1%

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