The University of New Mexico (UNM) Financial Aid and Scholarships
Students Receiving Aid
93%
Total Aid Amount
$91.270M
Financial Aid Official Website
finaid.unm.edu/
Such schemes include Amigo Scholarship, College Assistance Migrant Program (CAMP), New Mexico Scholars Scholarship, and Presidential Scholarship. It is interesting to note that, every year, around 94% of students at UNMMC receive some kind of financial aid, while the total amount of assistance/loans provided is $41,658,004. Notably, a total of 40% of the applicants to University of New Mexico-Main Campus receive the Federal Grant every year. In comparison, 93% of the students are awarded the Student Grant, 70% get the Institution Grant, and 39% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,051, and the same stands at $2,988 for State Grant awardees and $3,420 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,649. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At UNMMC, an estimated number of 32% of the applicants choose to go for student loans.
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