College Factual  by our College Data Analytics Team
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Can You Afford University of Minnesota - Twin Cities?

Concerned about paying for college? Take a look at UMN Twin Cities’ financial aid options, including grants, scholarships, and student loans, then calculate the net price based on your income level to determine if you can afford to attend this school.

Attendance Costs in 2020 - 2021 Varied Between $9,247 & $47,125

Worried about paying the full cost of $47,125 to attend University of Minnesota - Twin Cities? That number can be deceiving, as the net amount most students will pay varies significantly.

For students living in Minnesota, the university offers a discount of 54.9% off tuition and fees. Also, 61.3% of freshmen receive some form of financial aid, with the average amount totaling $9,334. Students from low-income families receive an average of $19,580 in aid during their first year.

Cost for Residents of Minnesota (no aid)

Tuition and fees$15,027
+ Room and board$10,358
+ Other expenses$3,442
Total cost$28,827
Affordability Score (43 out of 100)
more expensive
less expensive

Net Price for Residents of Minnesota (with average aid)

Total cost$28,827
- Grants and scholarships$9,334
Net price$19,493
Affordability Score (46 out of 100)
more expensive
less expensive

Average Net Price for Low Income Residents of Minnesota

Total cost$28,827
- Grants and scholarships$19,580
Net price$9,247
Affordability Score (86 out of 100)
more expensive
less expensive

Cost for Non-Residents (no aid)

Tuition and fees$33,325
+ Room and board$10,358
+ Other expenses$3,442
Total cost$47,125
Affordability Score (21 out of 100)
more expensive
less expensive

Net Price for Non-Residents (with average aid)

Total cost$47,125
- Grants and scholarships$9,334
Net price$37,791
Affordability Score (8 out of 100)
more expensive
less expensive

Average Net Price for Low Income Non-Resident Undergraduates

Total cost$47,125
- Grants and scholarships$19,580
Net price$27,545
Affordability Score (18 out of 100)
more expensive
less expensive

Learn more about tuition and fees, room, board and other expenses, and financial aid options at UMN Twin Cities.

Projected Costs Between $35,411 and $306,944 For a Four Year Degree. Between $17,926 and $146,311 For a Two Year Degree.

It can be a bit scary to look at the total projected cost of a college education over the course of a multi-year degree, however, doing so will help you better understand the financial commitment you are making.

The overall cost for on-campus, in-state students to attend University of Minnesota - Twin Cities in 2020 - 2021 was $28,827. To calculate future costs, we looked at the prior five years of data and determined that this cost increased an average of 1.6% each year.

If this trend continues, we expect the full cost for incoming freshmen to be $29,745 during their first year. By their senior year, that cost will be approximately $31,177, for a bachelor degree candidate ($30,215 for an associate degree candidate) for a total of $121,830 over the course of four years ($59,960 over the course of two years). These numbers do not take into consideration financial aid, which reduces this overall cost by varying amounts per student.

The cost for out-of-state students is more, with an overall expected four-year cost of $222,268 based on a yearly growth rate of 4.8%. The expected two-year cost is $105,949.

Remember, the full costs quoted above are not what most students will pay, and the net price varies quite a bit based on individual circumstances.

Average Net Price at University of Minnesota - Twin Cities

Cost With Interest for Residents of Minnesota

The tables below outlines how the overall degree net cost can vary depending on your situation. This table also highlights the impact student loans can have on the overall cost of college.

Projected 2-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*0.4%1.6%
Freshman year$9,019$19,641$29,745
Senior year$8,907$19,716$30,215
Total 2-year net price$17,926$39,357$59,960
10-year loan interest @ 6.8%$6,829$14,994$22,843
Total monthly payment$206$453$690
Total amount paid$24,756$54,351$82,803
Projected 4-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*0.4%1.6%
Freshman year$9,019$19,641$29,745
Senior year$8,688$19,866$31,177
Total 4-year net price$35,411$79,015$121,830
10-year loan interest @ 6.8%$13,490$30,102$46,413
Total monthly payment$408$909$1,402
Total amount paid$48,901$109,116$168,243

Cost With Interest for Out-Of-State Residents

The tables below outlines how the overall degree net cost can vary depending on your situation. This table also highlights the impact student loans can have on the overall cost of college.

Projected 2-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*4.9%4.8%
Freshman year$29,598$41,609$51,738
Senior year$30,681$43,660$54,211
Total 2-year net price$60,280$85,269$105,949
10-year loan interest @ 6.8%$22,964$32,484$40,363
Total monthly payment$694$981$1,219
Total amount paid$83,244$117,754$146,311
Projected 4-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*4.9%4.8%
Freshman year$29,598$41,609$51,738
Senior year$32,968$48,071$59,517
Total 4-year net price$125,053$179,154$222,268
10-year loan interest @ 6.8%$47,640$68,251$84,676
Total monthly payment$1,439$2,062$2,558
Total amount paid$172,693$247,405$306,944

Visit net price and financial aid to learn more about the total cost of attending University of Minnesota - Twin Cities.

Further Questions to Consider

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