The Best New Mexico Scholarships with Upcoming Deadlines in 2024

About scholarships in New Mexico

Each year 72.4% of New Mexico high school graduates attend college, though the yearly increasing cost of college tuition and fees make it difficult for many New Mexico students to afford higher education.

There are many scholarship programs designed to fill this need and give students the resources they need to attend college. New Mexico residents can find exclusive New Mexico scholarships intended specifically for their higher education expenses.

New Mexico students and student debt

In order to pay high tuition prices, many New Mexico residents turn to student loans. Most students cannot afford to pay education expenses out of pocket and student loans seem like an easy source of aid. Between 2007 and 2017, New Mexico saw a 129% growth in student debt.

There are currently 216,800 student loan borrowers in New Mexico, and New Mexicans now owe more than $6.8 billion in student debt. This reliance on student loans can burden students and prevent them from achieving other life goals, such as buying a home, pursuing graduate school, or starting a business.

Paying off these student loans also proves quite difficult. New Mexico has the second-highest student loan default rate in the country, and more than 1 out of every 5 student loan borrowers in New Mexico are severely delinquent on their debt.

Colleges in New Mexico

There are 51 colleges and universities in New Mexico with 28 public schools and 23 private schools. There are 109,482students enrolled in these colleges. Across the state, 55,038 students are enrolled full-time and 56,381 are enrolled part-time.

The University of New Mexico is the largest university in the state with 22,311 students enrolled during the 2020 to 2021 academic year. The second-largest university is New Mexico State University with 14,227 students, and Eastern New Mexico University comes in at 3rd largest with a student population of 5,266.

In recent years, many New Mexico residents have opted out of the value of a college education. The total number of undergraduate and graduate enrollment in New Mexico public post-secondary institutions has been steadily decreasing each year. Of the students who do attend, only 39.26% graduate.

It is hard for students to maintain good academic standing while working and worrying about the high cost of their education.

New Mexico college demographics

New Mexico is home to a diverse set of students. Hispanic students, who are typically underrepresented on college campuses, make up 48.10% of the student population. While White students account for 29.62% of total students, Native American students for 8.90%, Black students for 2.60%, and Asian for 2.19%.

Colleges in New Mexico do fit in with national trends when it comes to the gender of their students. A majority, 61%, of university students in New Mexico are female and only 39% are male.

Costs of college in New Mexico

Luckily for college students in New Mexico, the cost of tuition is 23.02% less than the national average. The average cost of attendance at a public four-year university in New Mexico is $16,193. At a private four-year institution, students in New Mexico can expect to pay an average of $36,962 a year.

St. John’s College, which is a private university, is the most expensive school in the state with a cost of attendance of $49,270 per year. The University of New Mexico is the most expensive public four-year university as in-state students are expected to pay $17,646 a year.

Though the tuition and fees students are expected to pay are among the lowest in the nation, this does not mean the cost of attendance is any less prohibitive. Tuition in New Mexico increased 3.62% from the 2018-2019 academic year to the 2019-2020 year.

Financial aid in New Mexico

Each year, students in New Mexico receive $600 million in financial aid to support their educational journey. Though the majority of assistance students receive does not have to be paid back, a significant portion comes from student loans. To break it down, 51% of this aid comes in the form of grants, 12% comes from scholarships, 35% from loans, and 2% from work-study.

One of the main sources for scholarship resources comes from New Mexico's Legislative Lottery Scholarship which awarded 24,274 students during the 2020 academic year. The total Legislative Lottery Scholarship amount is $44,874,482. Qualifying students can get 100% of their tuition covered with this scholarship, but many students are ineligible and there are still other expenses it does not cover.

The New Mexico Higher Education Department estimates a $35,320,000 gap in tuition and fees that aid fails to cover. Students with high financial need can find it even more difficult than their peers when this aid does not provide enough support. When looking at first-time, full-time freshmen starting at New Mexico’s universities in the 2011-2012 academic year, one study found that students who received federal Pell Grants and subsidized loans consistently had lower six-year graduation rates.

Thankfully, students do not have to worry about putting their dreams on hold for financial reasons. Many scholarships exist to combat situations of financial need and to help students who intend to enroll in college.

The best scholarships for New Mexico students 

The following scholarships will allow many New Mexican students to pursue higher education. Outside of institutional scholarships that students might qualify for from their specific university or the financial aid offered by their state government, students can find many resources that will support them as they go on to excel in school.

Many scholarships for New Mexico students exist on bold.org to lessen the financial burden of higher education. Though bold.org's current catalog does not include any New Mexico scholarships specifically intended for a New Mexico resident, there are still general scholarships worth applying to. New scholarships are also added each day, so there will always be a new opportunity to find top scholarships.

Additional scholarships that students in New Mexico should consider 

By accessing bold.org, New Mexico students will find a broad range of scholarships tailored to their individual needs and personalities. Many niche scholarships can be found perfect for eligible students. Students should apply for as many scholarships as possible in order to maximize their scholarship award amounts and ensure their future. Below, students can find exclusive scholarships that fit their tuition needs.

1. Isaac Yunhu Lee Memorial Arts Scholarship
2. Charles Cheesman's Student Debt Reduction Scholarship
3. Jae'Sean Tate BUILT Scholarship
4. Marissa Collections Scholarship
5. BJB Scholarship
6. Carlos E. Reid XXV Scholarship
7. Kenyada Me'Chon Thomas Legacy Scholarship
8. Nina L. Coleman Memorial Scholarship
9. Lo Easton's “Wrong Answers Only” Scholarship
10. WTFintech? No-Essay Scholarship
11. Youssef University’s College Life Scholarship
12. Hispanic Empowerment No-Essay Scholarship
13. Bold Hope for the Future Scholarship
14. Surya Education Assistance Scholarship

Scholarships for high school students in New Mexico

Students can begin receiving scholarship awards as early as high school. New Mexico high school students can find it beneficial to apply for scholarships before they even begin choosing what college to attend. Generally, high school students have less to worry about than their college student counterparts. Students can get ahead and save themselves from future worry by applying to scholarships in high school.

Some scholarships are extremely limited when it comes to who is eligible to apply. The Carlos E. Reid XXV Scholarship, for example, is only open to a first-generation and low-income high school or undergraduate student majoring in the arts with at least a 3.0 GPA and a parent working in the service industry.

High school students who know what career field they want to go into can find specific scholarships for their intended major. Students who want to go to art school in the future can apply to the Isaac Yunhu Lee Memorial Arts Scholarship by April 12th, 2022 for the chance to receive $12,000 to put towards their education

Students can also apply for general scholarships, such as Youssef University’s College Life Scholarship, which is available to students of any education level who plan to enroll or are currently enrolled in college. Interested students must submit a 200-word essay by July 7, 2022, on what they would do with the $1,000 award.

New Mexico scholarships for high school seniors

Graduating high school seniors often have the most scholarship opportunities available to them. Scholarships can provide useful resources to high school seniors beginning to solidify their career plans.

Female New Mexico high school seniors who are passionate about getting an education can apply for the Surya Education Assistance Scholarship's $500 award by June 28, 2022

Students with financial need who identify as BIPOC can apply to the Nina L. Coleman Memorial Scholarship for a chance at the $2,000 award.

BIPOC graduating high school seniors with at least a 2.5 GPA are also eligible to apply for the Kenyada Me'Chon Thomas Legacy Scholarship.

Any high school or undergraduate student tired of boring essay prompts can apply to Lo Easton's “Wrong Answers Only” Scholarship.

College scholarships for New Mexico residents

Students who have already completed their bachelor's degree or are currently enrolled in another degree program are still eligible applicants for many scholarships. Whether a full-time student or part-time, there are still many opportunities for them.

High school graduates who have already started college can find many scholarships on bold.org that will allow them to afford higher education. One easy scholarship for students interested in finance is the WTFintech? No-Essay Scholarship students who read and engage with WTFintech? by April 1, 2022 can easily win $1,000.

It doesn't matter if you are currently getting your bachelor's degree or not, New Mexico residents of any education level are eligible to apply for the Bold Hope for the Future Scholarship for an award of $500. The application deadline is May 28, 2022.

College students who demonstrate financial need can find the support they need through BJB Scholarship which will award $1,000 to 3 winners.

Students planning on a career in the fashion industry have the opportunity to apply for the Marissa Collections Scholarship.

New Mexico scholarships for Hispanic or Latinx students

There are many scholarship opportunities available to support Hispanic students as they attend college such as the Hispanic Empowerment No-Essay Scholarship. Scholarships like these promote the enrollment of traditionally underrepresented groups in university coursework.

Hispanic students in New Mexico with student loan debt are eligible applicants for the Charles Cheesman's Student Debt Reduction Scholarship of $10,000. The application deadline is May 16, 2022.

BIPOC students who have worked in the service industry are eligible for the $9,250 award from the Jae'Sean Tate BUILT Scholarship.

Frequently asked questions about scholarships in New Mexico

How to apply for New Mexico scholarships

To begin applying to scholarships in New Mexico, students must first create a free profile on bold.org. Bold.org provides one of the simplest ways to apply to a wide variety of scholarships.

Students only have to build a quick informational account that asks them questions about their educational background and goals. After completing all the required sections, students then have access to hundreds of exclusive scholarships. The scholarships can also be filtered by education level or category. For example, students might be interested in scholarships for nursing or medical-related fields and can check out those categories to make sure they find all of their relevant scholarships.

Most scholarships require applicants to submit a short essay on a specific topic, but there are some easy "no-essay" scholarships that only require qualified students to hit the apply button. Students confident in their artistic abilities can even find scholarships that ask they include a creative submission of a video or painting. Each scholarship has different eligibility requirements and different application materials it requires, so students should always fully read the description before applying.

The best way to maximize your chances of being awarded the scholarship you apply for is to spend plenty of time perfecting your application materials. There is no specific time that students should begin looking for scholarships. The application deadline differs from scholarship to scholarship so students can apply year-round through the summer, fall, and spring semesters.

When can I start applying?

It is best to apply for scholarships as early as possible. The earliest you can apply for scholarships is when you start high school. High school students might find it better to begin thinking of how they will find financial support for their college education before they even decide on which college to attend. Though it is never too early or too late to secure scholarships. Whether a student is in their first semester of their freshmen year of college or a newly graduated student looking to pay off student loans, there are scholarships available for them.

There is also no specific day or time of year that students have to apply for scholarships by, a scholarship's application deadline can range depending on the donor's choice.

How do I know if I'm eligible for a scholarship?

There are many niche scholarships out there that might make it difficult for you to know whether or not you are actually able to apply. Certain scholarships might require you to demonstrate academic excellence. They might state that your cumulative GPA has to be above a certain level or you have to have a minimum ACT score, while others will only require you to be a student.

When possible, it is best to find more exclusive scholarships that you are eligible for as the more restrictions there are to apply, the less competitive the selection process is.

Bold.org makes it easy to figure out if you are an eligible applicant for a scholarship. Each time you click on a scholarship the eligibility requirements will be clearly listed at the top of the page. Bold will even block you from applying to certain scholarships if your profile information makes you ineligible to apply. This saves you time that could be better spent applying for other scholarships.

What do I have to do to apply?

The application process varies from scholarship to scholarship. The easiest scholarships to apply for are no-essay scholarships that let students apply instantly with one simple click. Though students should also apply to scholarships that require more of their applicants as no-essay scholarships have a very large applicant pool and tend to be the most competitive.

The majority of less competitive scholarships will require students to submit short essays in response to a specific topic a donor finds important. There are also many scholarships that look for things beyond a well-written essay. If you feel more talented in another area such as photography, there are many scholarships that will look beyond writing ability and instead allow you to submit a photo or image.

There are also some scholarships that might only look at past achievements and not require you to produce any new materials. These can be great for students with significant leadership experience or who have demonstrated their contributions to their community.

No matter where your skills lie, there is bound to be a scholarship that speaks to your talent on bold.org.

Are scholarships counted as income?

Scholarships are not counted as income since they are used for necessary educational expenses. As long as your total scholarship award is less than the cost of your college tuition and fees, you will also not be expected to pay for taxes on the award amount.