In college, consider researching the costs involved in attending the college of your preference. Use these costs to create a budget which will estimate the amount of money you need to save or secure via scholarships and grants for college.
When creating a budget for college, the costs can be split into six categories. These categories include tuition and fees, room, dining membership, books and supplies, transportation, and personal expenses. To learn more about each category, use the table below.
Visit the New Mexico Higher Education Department Guide for more information about New Mexico college and universities. Tuition in New Mexico is now free, visit the New Mexico Opportunity Scholarship webpage for more information.
For information on financial resources, check out IRD Sources of Financial Aid, American Indian College Fund Resource Guide, Financial Avenue, High School Financial Planning Program, or SmartAboutMoney.org.
Higher Education
Department Guide
Tuition is the price you pay for classes at your college. The price depends on the amount of academic credits you are taking and whether you are an in-state, or out-of-state student. Most colleges also have additional fees for activities, technology, registration, etc.
This is the cost of living on campus at your college. Look at the lodging or dorm options that your college has. Be sure to research the housing requirements on your campus. Some college campuses require students to stay on campus for their first year as a freshman. If you will be living off campus, know what costs will come with living with a relative or renting an apartment.
This is the cost of your meals at your college. Look at the meal plans that your college has and choose the option that would be best for you. If you do not purchase a meal plan from your college, you will need to budget for groceries. Try to limit the amount of times you eat out or buy fast food.
This is the cost of books and supplies for your classes. Each college class has requirements for textbooks and supplies. Before you begin your classes, check what books and supplies you will need. Be sure to check if your college offers free internet if you live on campus. If you live off campus, you may have to pay for internet services.
This is the cost of commuting to your college campus. If you will be taking a bus, you will need to look up the price of a bus pass. If you will have your own vehicle, you will need to budget the price of gas, parking fees, insurance, vehicle maintenance, tires, etc. Other options can include biking or using a scooter.
Personal expenses are items that are not involved with college expenses or fees. This could be personal hygiene products, health insurance, phone bills, laundry, or eating out. Add up the items you will NEED first, such as personal hygiene products, phone bills, laundry, etc. Add the items you WANT last, such as expensive clothing, game consoles, televisions, etc
Pay for College
The College Board Pay for College offers several calculators to assist in calculating college costs, such as calculating how much students would need to save for college or which financial aid offer is the best choice.
Tuition and Fees at Higher Education Institutions in New Mexico
- Eastern New Mexico University-Roswell Campus
- Eastern New Mexico University-Ruidoso Branch
- New Mexico State University-Alamogordo
- New Mexico State University-Carlsbad
- New Mexico State University-Dona Ana
- New Mexico State University-Grants
- University of New Mexico-Gallup Campus
- University of New Mexico-Los Alamos Campus
- University of New Mexico-Taos Campus
- University of New Mexico-Valencia Campus
- St. John's College - Santa Fe
