Our students come from all income levels. Median family income for students at our colleges mirrors the Minnesota median of $89,000. And family incomes for students at our colleges are similar to those at public universities. Median family incomes for FAFSA-filing Minnesota students are:
- $96,100 at the University of Minnesota
- $90,100 at Minnesota Private Colleges
- $69,600 at Minnesota State Universities
Tuition and aid
Our colleges have worked to contain spending while making significant increases in institutional grant aid, awarding more than $684 million in institutional grants and scholarships.
- For every $1 in state and federal grant aid our students receive, our institutions award $7.
Grants and scholarships reduce the average amount that first-year students actually pay for tuition by 69 percent compared to listed tuition.
- The average net tuition for first-year students is $13,591 because first-year students receive an average of $29,552 in institutional, state and federal grants.
- For first-year students from families with incomes below $50,000, average grants cover 94 percent of tuition.
- The average net tuition for these students after institutional, federal and state grants is $2,500. These students receive an average of more than $36,800 in grants.
One in four students at our colleges receive Pell Grants, which are awarded to low-income students. The share of students receiving Pell Grants are:
- 17 percent at the University of Minnesota
- 24 percent at Minnesota Private Colleges
- 23 percent at Minnesota State Universities
Compared to 10 years ago, the net tuition for first-year students has declined by $900. Our colleges have worked to contain costs while making significant increases in institutional grant aid.
Private college graduates’ borrowing for bachelor’s degrees mirrors levels at public institutions.
- The share of graduates from Minnesota Private Colleges with no debt is 32 percent, compared to 35 percent at Minnesota State and 43 percent at the University of Minnesota.
- Median debt level for graduates from our colleges who borrowed is $26,000. That compares to $23,000 at Minnesota State Universities and $22,600 at the University of Minnesota.