- Our students come from all income levels — and family incomes for students at private nonprofit colleges are similar to those at public universities. Median family income for FAFSA-filing Minnesota students is:
- $83,368 at the University of Minnesota
- $79,599 at Minnesota’s Private Colleges
- $62,473 at State Universities (MnSCU)
- 84% of our first-year students apply for financial aid by filing the FAFSA.
- Thanks to financial aid, the average amount that first-year students actually pay for tuition is considerably less than the posted price — less than half.
- The average net tuition for first-year students is $14,469 because students receive an average of $19,340 in institutional, state and federal grants, covering 57% of tuition costs.
- Average institutional grants have increased by more than 51% since 2007-08, so the inflation-adjusted net tuition has actually decreased by 7% compared to then.
- For first-year students from families with incomes below $50,000, average grants cover 82% of tuition.
- The average net tuition these students pay after institutional, federal and state grants is $5,845. And because average institutional grants have increased by more than $9,500, the inflation-adjusted net price has actually dropped 24% since 2007-08.
In 2013-14, our institutions award more than $523 million in institutional grants and scholarships.
94% of our first-year students receive grants and scholarships that do not have to be paid back.
- Private college students’ borrowing closely mirrors levels at public
- The share of students at our colleges with no debt is 28%, compared to 34% at the University of Minnesota and 27% at MnSCU 4-year institutions.
- Median debt level for students who are borrowing at our colleges is $27,940 compared to $25,080 at the U of M and $25,424 at MnSCU universities.
- 18% of our students are “first-generation” students, meaning that neither of their parents completed college.