The purpose of a state report card is to provide the general public and policymakers with information to assess and improve post secondary education in each state. "Measuring Up 2008" is the fifth in a series of biennial report cards that evaluates states in six overall performance categories: (1) Preparation for post-secondary education and training; (2) Participation; (3) Affordability; (4) Completion; (5) Benefits; and (6) Learning. Respective findings for New Mexico relative to best-performing states include: (1) Underperformance in educating its young population could limit state access to a competitive workforce and weaken the state economy; (2) New Mexico does fairly well in providing college opportunities for its residents; (3) Higher education has become less affordable for students and their families; (4) New Mexico performs poorly in awarding certificates and degrees, but the state has improved over the decade; (5) A fairly small proportion of residents have a bachelor's degree, and the economic benefits to the state as a result are only fair; and (6) Like all states, New Mexico receives an "Incomplete" in Learning because there is not sufficient data to allow meaningful state-by-state comparisons. Based on previous state performance, the percentage of young adults in New Mexico who earn a high school diploma has remained stable since the early 1990s; college enrollment of young adults in New Mexico has improved slightly since the early 1990s; college enrollment of working-age adults, relative to the number of residents without a bachelor's degree, has declined; the share of family income, even after financial aid, needed to pay for college has risen substantially; the number of undergraduate credentials and degrees awarded in New Mexico, relative to the number of students enrolled, has increased since the early 1990s; and the percentage of residents who have a bachelor's degree has increased. (Contains 7 figures.) [For the National Report, see ED503494. For the complete New Mexico report, see ED503601.]