About Higher Ed Bond 3
General Obligation bonds are the primary source of capital improvement funding for New Mexico's higher education institutions. They come before voters every two years and are funded by property taxes.
Our colleges, universities and specialty schools need this funding to:
- Renovate and repair the equipment and facilities we have already invested in
- Replace old, outdated facilities that are past their useful lifespan and cannot meet current educational demands and safety standards
- Keep up-to-date on technology to attract top students and faculty
- Maintain the resources and infrastructure needed to deliver quality on-line education to rural students
A certificate, two-year or four-year degree, matters. A community college education returns about $4.80 in future income for every dollar a student invests.
Over a lifetime, a bachelor’s degree holder earns a median of $2.8 million – roughly 75% more than those with only a high school diploma.
Affordability
- New Mexico offers some of the lowest public tuition rates in the U.S., often 25-35% below the national average.
- Since 2021, enrollment has grown by 13.6% at our public college and universities.
- A 2205 study by the Strada Education Foundation placed New Mexico among the top 14 states for economic security after graduation.
Earnings and Quality of Life Increase
According to an April 14, 2026 report by college board
- A four-year degree consistently yields significant lifetime earnings – averaging about 42.3 million vs. $1.2 million for high school grads and a wage premium of about 60%.
- College graduates demonstrate higher labor force participation and lower unemployment rates (3.1% vs. 5.8% for non-degree holders).
- Graduates are more likely to secure jobs offering robust benefits, including health insurance, paid leave and retirement plans.
- Research links four-year degrees to higher rates of marriage, better overall health, lower rates of poverty and greater civic and political engagement.
Employment Prospects Improve
- Data from the U.S. Bureau of Labor Statistics indicates individuals with some college or an associate’s degree face an unemployment rate of roughly 3.5% compared to 4.5% for high school graduates with no college experience.
- In 2025, the unemployment rate among adults 25-34 was 3.1% for college graduates compared with 5.8% for those without a degree.
