The state of New Mexico is home to a diverse population and a low cost of living. Here, you'll find large, research universities like the University of New Mexico, as well as more specialized schools like St. Johns College, a private liberal arts school or New Mexico Institute of Mining and Technology.
That said, the state offers fewer in-person options for student residents, compared to states like New Jersey or California. As such, they've presented an alternative solution that opens up a few more possibilities. New Mexico is also part of an exchange program called the Western Interstate Commission for Higher Education (WICHE).
What this means is, the state provides a long list of benefits to distance learners from other states included in the program, including reduced tuition rates and interstate reciprocity—which gives students the ability to enroll in out-of-state programs without increasing their costs.
That's not to say that New Mexico doesn't have quality schools.
How Much Can You Make by Earning a Degree in New Mexico?
The median household income in New Mexico is $60,980, and the state economy employs about 845,500 people. The top employers are the forestry industry and the US Air Force, followed by education, food services, and construction.
According to the state census, as of 2021, roughly 28% of working adults had received a bachelor’s degree or higher, while 85% has received a high school diploma or GED. Earning a degree in New Mexico can ensure that you receive a higher than average income—especially if you go into nursing, technology, or business administration.
According to the Bureau of Labor Statistics data, a bachelor of science holder earns about $65,000 per year, while the average earnings for graduates with a bachelor of arts is roughly $55,000. Earning a master’s can help increase your earning potential, though a Master of Science ($90k on average) will pay off more than going for your Master of Arts.
The highest paying industries are aerospace manufacturing, aluminum production, and computer equipment manufacturing, so New Mexico residents looking to secure a job in one of these areas may want to look into studying business management, supply chain operations, or engineering. While vocational training may present a faster path to working in manufacturing production, a bachelor's degree is a more versatile credential.
Education Level & National Average Median Compensation
| NO FORMAL EDUCATION | HIGH SCHOOL DIPLOMA | ASSOCIATE DEGREE | BACHELOR’S DEGREE | MASTER’S DEGREE | DOCTORAL DEGREE |
|---|---|---|---|---|---|
| $36,816* | $46,748* | $55,016* | $77,636* | $90,324* | $109,668* |
Top 15 Best Associate Degree Programs in New Mexico
Northern New Mexico College
Score: 81.09
- Undergraduate Tuition
- In-State: $6,400
- Out-of-State:$14,328
- Net Price: $8,383
- Acceptance Rate: 100%
- Retention Rate: 53%
- Graduation Rate: 40%
- Total Enrollment: 1,154
- Undergrad Students: 1,154
- Graduate Students: N/A
- Grads Salary: $63,000
- Student-to-faculty: 12:1
New Mexico Junior College
Score: 71.58
- Undergraduate Tuition
- In-State: $1,920
- Out-of-State:$2,280
- Net Price: $5,964
- Acceptance Rate: 100%
- Retention Rate: 55%
- Graduation Rate: 49%
- Total Enrollment: 2,228
- Undergrad Students: 2,228
- Graduate Students: N/A
- Grads Salary: $35,500
- Student-to-faculty: 17:1
Mesalands Community College
Score: 65.37
- Undergraduate Tuition
- In-State: $2,136
- Out-of-State:$3,408
- Net Price: $8,616
- Acceptance Rate: 100%
- Retention Rate: 58%
- Graduation Rate: 52%
- Total Enrollment: 824
- Undergrad Students: 824
- Graduate Students: N/A
- Grads Salary: $28,700
- Student-to-faculty: 12:1
San Juan College
Score: 65.02
- Undergraduate Tuition
- In-State: $1,790
- Out-of-State:$4,985
- Net Price: $4,378
- Acceptance Rate: 100%
- Retention Rate: 69%
- Graduation Rate: 23%
- Total Enrollment: 5,454
- Undergrad Students: 5,454
- Graduate Students: N/A
- Grads Salary: $35,700
- Student-to-faculty: 12:1
Central New Mexico Community College
Score: 63.81
- Undergraduate Tuition
- In-State: $1,934
- Out-of-State:$8,366
- Net Price: $4,742
- Acceptance Rate: 100%
- Retention Rate: 62%
- Graduation Rate: 28%
- Total Enrollment: 19,095
- Undergrad Students: 19,095
- Graduate Students: N/A
- Grads Salary: $35,100
- Student-to-faculty: 20:1
Clovis Community College-New Mexico
Score: 63.75
- Undergraduate Tuition
- In-State: $1,334
- Out-of-State:$9,454
- Net Price: $5,005
- Acceptance Rate: 100%
- Retention Rate: 71%
- Graduation Rate: 36%
- Total Enrollment: 7,772
- Undergrad Students: 7,772
- Graduate Students: N/A
- Grads Salary: $29,900
- Student-to-faculty: 27:1
Eastern New Mexico University-Roswell
Score: 63.75
- Undergraduate Tuition
- In-State: $2,424
- Out-of-State:$5,616
- Net Price: $6,291
- Acceptance Rate: 100%
- Retention Rate: 50%
- Graduation Rate: 35%
- Total Enrollment: 1,856
- Undergrad Students: 1,856
- Graduate Students: N/A
- Grads Salary: $38,000
- Student-to-faculty: 24:1
Eastern New Mexico University Ruidoso Branch Community College
Score: 59.87
- Undergraduate Tuition
- In-State: $1,804
- Out-of-State:$2,644
- Net Price: $5,278
- Acceptance Rate: 100%
- Retention Rate: 54%
- Graduation Rate: 17%
- Total Enrollment: 691
- Undergrad Students: 691
- Graduate Students: N/A
- Grads Salary: $38,000
- Student-to-faculty: 12:1
New Mexico State University-Grants
Score: 59.04
- Undergraduate Tuition
- In-State: $2,376
- Out-of-State:$4,272
- Net Price: $8,840
- Acceptance Rate: 100%
- Retention Rate: 52%
- Graduation Rate: 34%
- Total Enrollment: 825
- Undergrad Students: 825
- Graduate Students: N/A
- Grads Salary: $35,900
- Student-to-faculty: 17:1
New Mexico State University-Dona Ana
Score: 57.92
- Undergraduate Tuition
- In-State: $2,718
- Out-of-State:$6,360
- Net Price: $5,518
- Acceptance Rate: 100%
- Retention Rate: 64%
- Graduation Rate: 17%
- Total Enrollment: 6,662
- Undergrad Students: 6,662
- Graduate Students: N/A
- Grads Salary: $35,900
- Student-to-faculty: 20:1
New Mexico State University-Alamogordo
Score: 56.26
- Undergraduate Tuition
- In-State: $3,000
- Out-of-State:$6,072
- Net Price: $7,778
- Acceptance Rate: 100%
- Retention Rate: 58%
- Graduation Rate: 20%
- Total Enrollment: 1,032
- Undergrad Students: 1,032
- Graduate Students: N/A
- Grads Salary: $35,900
- Student-to-faculty: 11:1
Santa Fe Community College
Score: 56.09
- Undergraduate Tuition
- In-State: $2,505
- Out-of-State:$4,995
- Net Price: $8,151
- Acceptance Rate: 100%
- Retention Rate: 58%
- Graduation Rate: 18%
- Total Enrollment: 3,266
- Undergrad Students: 3,266
- Graduate Students: N/A
- Grads Salary: $38,200
- Student-to-faculty: 11:1
New Mexico State University-Carlsbad
Score: 55.49
- Undergraduate Tuition
- In-State: $1,968
- Out-of-State:$4,008
- Net Price: $8,444
- Acceptance Rate: 100%
- Retention Rate: 57%
- Graduation Rate: 22%
- Total Enrollment: 1,673
- Undergrad Students: 1,673
- Graduate Students: N/A
- Grads Salary: $35,900
- Student-to-faculty: 13:1
Luna Community College
Score: 54.7
- Undergraduate Tuition
- In-State: $1,634
- Out-of-State:$3,050
- Net Price: $8,089
- Acceptance Rate: 100%
- Retention Rate: 71%
- Graduation Rate: 19%
- Total Enrollment: 774
- Undergrad Students: 774
- Graduate Students: N/A
- Grads Salary: $32,500
- Student-to-faculty: 12:1
University of New Mexico-Valencia County
Score: 36.02
- Undergraduate Tuition
- In-State: $1,878
- Out-of-State:$5,130
- Net Price: $4,706
- Acceptance Rate: 100%
- Retention Rate: 62%
- Graduation Rate: 16%
- Total Enrollment: 1,953
- Undergrad Students: 1,953
- Graduate Students: N/A
- Grads Salary: N/A
- Student-to-faculty: 19:1
Top 5 Best Bachelor's Programs in New Mexico
New Mexico Institute of Mining and Technology
Score: 88.01
- Undergraduate Tuition
- In-State: $9,058
- Out-of-State:$26,312
- Net Price: $10,429
- Acceptance Rate: 74%
- Retention Rate: 75%
- Graduation Rate: 55%
- Total Enrollment: 1,689
- Undergrad Students: 1,218
- Graduate Students: 471
- Grads Salary: $85,000
- Student-to-faculty: 9:1
New Mexico State University
Score: 78.59
- Undergraduate Tuition
- In-State: $8,147
- Out-of-State:$25,271
- Net Price: $10,407
- Acceptance Rate: 78%
- Retention Rate: 72%
- Graduation Rate: 51%
- Total Enrollment: 14,268
- Undergrad Students: 11,591
- Graduate Students: 2,677
- Grads Salary: $76,000
- Student-to-faculty: 16:1
St. John's College-Santa Fe
Score: 76.93
- Undergraduate Tuition
- In-State: $38,946
- Out-of-State:$38,946
- Net Price: $29,265
- Acceptance Rate: 54%
- Retention Rate: 74%
- Graduation Rate: 72%
- Total Enrollment: 439
- Undergrad Students: 364
- Graduate Students: 75
- Grads Salary: $74,000
- Student-to-faculty: 8:1
University of New Mexico
Score: 76.12
- Undergraduate Tuition
- In-State: $8,115
- Out-of-State:$26,450
- Net Price: $10,633
- Acceptance Rate: 96%
- Retention Rate: 72%
- Graduation Rate: 52%
- Total Enrollment: 21,953
- Undergrad Students: 16,375
- Graduate Students: 5,578
- Grads Salary: $74,000
- Student-to-faculty: 17:1
Eastern New Mexico University
Score: 75.78
- Undergraduate Tuition
- In-State: $6,863
- Out-of-State:$8,843
- Net Price: $8,702
- Acceptance Rate: 28%
- Retention Rate: 62%
- Graduation Rate: 41%
- Total Enrollment: 5,106
- Undergrad Students: 3,833
- Graduate Students: 1,273
- Grads Salary: $70,000
- Student-to-faculty: 16:1
Top 5 Best Master's Programs in New Mexico
New Mexico Institute of Mining and Technology
Score: 88.01
- Undergraduate Tuition
- In-State: $9,058
- Out-of-State:$26,312
- Net Price: $10,429
- Acceptance Rate: 74%
- Retention Rate: 75%
- Graduation Rate: 55%
- Total Enrollment: 1,689
- Undergrad Students: 1,218
- Graduate Students: 471
- Grads Salary: $85,000
- Student-to-faculty: 9:1
New Mexico State University
Score: 78.59
- Undergraduate Tuition
- In-State: $8,147
- Out-of-State:$25,271
- Net Price: $10,407
- Acceptance Rate: 78%
- Retention Rate: 72%
- Graduation Rate: 51%
- Total Enrollment: 14,268
- Undergrad Students: 11,591
- Graduate Students: 2,677
- Grads Salary: $76,000
- Student-to-faculty: 16:1
St. John's College-Santa Fe
Score: 76.93
- Undergraduate Tuition
- In-State: $38,946
- Out-of-State:$38,946
- Net Price: $29,265
- Acceptance Rate: 54%
- Retention Rate: 74%
- Graduation Rate: 72%
- Total Enrollment: 439
- Undergrad Students: 364
- Graduate Students: 75
- Grads Salary: $74,000
- Student-to-faculty: 8:1
University of New Mexico
Score: 76.12
- Undergraduate Tuition
- In-State: $8,115
- Out-of-State:$26,450
- Net Price: $10,633
- Acceptance Rate: 96%
- Retention Rate: 72%
- Graduation Rate: 52%
- Total Enrollment: 21,953
- Undergrad Students: 16,375
- Graduate Students: 5,578
- Grads Salary: $74,000
- Student-to-faculty: 17:1
Eastern New Mexico University
Score: 75.78
- Undergraduate Tuition
- In-State: $6,863
- Out-of-State:$8,843
- Net Price: $8,702
- Acceptance Rate: 28%
- Retention Rate: 62%
- Graduation Rate: 41%
- Total Enrollment: 5,106
- Undergrad Students: 3,833
- Graduate Students: 1,273
- Grads Salary: $70,000
- Student-to-faculty: 16:1
Scholarships for New Mexico College Students
Every year, students end up paying more than they need to for their education. In part, it’s because the process can be overwhelming as is. While some scholarships require group membership or an outstanding academic record, others are based on financial need, such as the College Affordability Grant. Those in the process of deciding where to attend school should also apply for as many scholarships as possible, especially given the below-average federal financial aid rates in New Mexico.
Below, we’ve included a few scholarships and grants offered to New Mexico residents—though there are countless others worth checking out.
NMSP
New Mexico Scholars Program
http://www.hed.state.nm.us/students/nmscholars.aspx
Amounts: Tuition, books, and fees
Deadline: Varies by institution
The New Mexico Scholars Program awards students who graduate in the top 5% of their class, have an SAT score of 1140+, or an ACT score of 25 or higher. To qualify, students must have a combined household income of $60,000 or less per year. The scholarship may be renewed for up to four years.
AAS
Aggie Achiever Scholarship
http://fa.nmsu.edu/scholarships/renewal/
Amounts: $6,500 per year or $26,000 total, for those undergraduates that maintain a GPA higher than 3.5
Deadline: March 1
This scholarship is offered to students who have been enrolled at New Mexico State University’s Los Cruces campus for at least one year. Additionally, they must be planning on taking at least 15 credit hours and have a 3.5 GPA or higher.
SMEAA
Sussman Miller Educational Assistance Award
https://abqcf.org/grants/#grant-opportunities
Amounts: $500-$2,000
Deadline: Varies for out-of-state or in-state private schools vs. NM public schools
The Sussman Miller Award is offered to students who attend an accredited college or university full-time and have financial need. Students will need to provide their financial aid letter along with their application, as well as their federal student aid report, official transcripts, and a letter of recommendation.
AAF-NMS
AAF-NM Scholarship
https://aafnm.org/scholarship/
Amounts: $1,400
Deadline: April 29
The American Advertising Federation’s New Mexico branch offers a $1,500 scholarship to full-time students entering their junior or senior year. Applicants must be studying advertising, marketing, business, or journalism and have a GPA of 3.0 or above. To apply, students must submit official transcripts, a resume, a letter of recommendation, and a personal statement outlining their career goals and why they’ve chosen their area of study.
PFLAGS
PFLAG Scholarship
https://pflag.org/localpflagscholarshipprograms
Amounts: $1,000
Deadline: April 15
Santa Fe’s PFLAG chapter awards $1,000 to 15 New Mexico LGBTQ students. The organization seeks out students with strong character; integrity, honesty, and a commitment to community service. To qualify, students must be under age 35 and be able to demonstrate a record of service and community involvement. Preference is given to LGBTQ students. However, students who identify as straight allies are welcome to apply as well.
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