Grants and Work Study
Other ways to pay for school.
GRANTS
Grants are free money towards a higher education and do not need to be paid back. Federal grants like the Pell Grant and some need-based scholarships use the FAFSA data to determine eligibility. It’s best to apply for grants ASAP as there is limited funding awarded each year, and many are awarded based on a first-come, first-serve basis. The more free money you get, the less you have to borrow.
Grant Programs for New Mexico Students
Pell Grant
Filling out the FAFSA automatically makes you eligible for the Pell Grant. It is a federal grant program available to any student with demonstrated financial need. The maximum loan amount varies per year and is calculated depending on your financial need and the cost of your chosen education program. The maximum Federal Pell Grant award is $7,395 for the 2026-27 award year (July 1, 2026, to June 30, 2027). Funds are available to full-time and part-time students. To apply, you must fill out a FAFSA and submit an application through your college’s financial aid office. Learn more here.
New Mexico Student Incentive Grant
Available to students attending public universities and certain qualifying private institutions, this grant program allows for $200 to $2,500 per year to students with financial need. Part-time students can also qualify for this grant. Applications should be submitted through the financial aid office. Learn more here.
Albuquerque Community Foundation Grants
Each year, Albuquerque Community Foundation awards grants through an annual grant cycle. Awards are granted to organizations providing services that support residents in the four-county Greater Albuquerque Metropolitan Area (Bernalillo, Sandoval, Torrance and Valencia). The Annual Grant Cycle is supported by over 90 endowment funds. In order to respond to the community’s specific needs, distributions from the funds are pooled and aligned directly with the Foundation’s fields of interest. Learn more here.