Cost of Attendance

The cost of attendance (COA) is an estimate of the costs a typical full-time student may incur during a full academic year (fall/spring). The cost of attendance is developed and published each year. It is used in determining your financial aid eligibility and includes both direct and indirect costs, which typically include:

• Tuition and fees
• Books and Supplies
• Personal expenses
• Room and Board
• Transportation

For a helpful tool to estimate your cost to attend college, try our new Net Price Calculator.

The total amount of financial assistance received by any student cannot exceed the student's cost of attendance as determined by the Office of Financial Assistance. All institutional financial aid commitments, including scholarships, may be adjusted to ensure that total assistance does not exceed total cost of attendance.

The budgets indicated below are estimates of Northern New Mexico College's cost of attendance. These budgets vary based on the living arrangements while in school — from living with parents or relatives, to living on-campus (residence halls), or living off-campus (apartment, home). Your actual expenses may vary. We urge you, as students, to arrange your lifestyle economically to reduce your reliance on loans.

COST OF ATTENDANCE ESTIMATES

NON-RESIDENT
FALL/SPRING 2020 - 2021

NON-RESIDENT/Off Campus
Institutional Costs
Tuition & Fees                            $13,676

Non-Institutional Costs
Room & Board                             $8,506
Books & Supplies                        $1,200
Personal                                      $2,424
Transportation                             $1,566
TOTAL BUDGET                       $27,372

NON-RESIDENT/Living with Parents
Institutional Costs
Tuition & Fees                            $13,676

Non-Institutional Costs
Room & Board                             $3,104
Books & Supplies                        $1,200
Personal                                      $1,212
Transportation                             $1,566
TOTAL BUDGET                       $20,758

NON-RESIDENT/On Campus
(No current student housing; on campus budget
reflects off campus costs.)
Institutional Costs
Tuition & Fees                           $13,676

Non-Institutional Costs
Room & Board                             $8,506
Books & Supplies                        $1,200
Personal                                      $2,424
Transportation                             $1,566
TOTAL BUDGET                       $27,372

ESTIMATED FAMILY CONTRIBUTION (EFC)

When a student completes the Free Application for Federal Student Aid (FAFSA) the Federal methodology formula is used to determine a student’s Expected Family Contribution (EFC). The EFC represents the amount the family is expected to contribute to the student’s education and includes, among other data items, the following components:

• Parent’s prior year income
• Student’s prior year income
• The value of the parent’s and student’s assets
• Number of household members
• Number of household member attending college

FINANCIAL NEED

To receive many types of federal, state, and private financial aid, a student must have financial need.  Financial need is determined by evaluating your family’s ability to pay for educational costs.  This process is commonly referred to as a need analysis and is completed after the Financial Aid Office has received the results of your FAFSA containing a valid EFC.  If the need analysis shows that your cost of attendance exceeds the amount you (and your parents if a dependent) can contribute (EFC), you will have demonstrated “Financial Need”, which will allow the Financial Aid Office to award you need based aid.

Example:
Cost of Attendance                            $18,000
Less: Expected Family Contribution    $1,500
Equals:  Financial Need                     $16,500

In this example there is $16,816.00 in financial need that can potentially be awarded in both need and non-need based aid for the academic year. Once all awards are subtracted from the financial need and it reaches $0, the student has exhausted all aid for the academic year.

Example:
Financial Need:                              $16,500
Pell Grant                                      – $4,195
FSEOG                                            – $600
NMSIG                                             – $600
Scholarship                                   – $3,000
Direct Subsidized Loan                – $3,500
Direct unsubsidized Loan            – $2,505
Federal Work Study                     – $2,100
Financial Need left after awarding      $0

Note:  If you have been awarded a grant or scholarship that is not included in your letter of award, please stop by the Financial Aid Office and notify us in writing.  Failure to report all grant and scholarship money received may result in your being required to repay funds received or in termination of aid.

Updated 6/10/21