by our College Data Analytics TeamThe majority of students will never be charged the full sticker price of a school. Rather, they are offered a financial aid plan that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The price tag of going to University of Minnesota-Twin Cities can appear tremendous, but do not forget that almost all students obtain some kind of financial help.
Just what financial assistance solutions will UMN Twin Cities provide, and just what are you going to be eligible for? Read on for answers. Keep reading to find out what amount of financial assistance will be accessible to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Continue reading to find information to help you understand just how much assistance you can expect to receive from University of Minnesota-Twin Cities.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
Among first-time, full-time freshmen at University of Minnesota-Twin Cities, 81% of the incoming full-time class was awarded financial aid approximately 5407 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 65% | $12,552 |
| Institutional grants & scholarships | 63% | $7,062 |
| Federal Pell grants | 24% | $5,959 |
| State/local grants | 31% | $7,177 |
| Federal student loans | 38% | $5,310 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. Here, around 51% of undergrads got grants or scholarships worth on average $12,094 (across approximately 20320 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 51% | $12,094 |
| Federal Pell grants | 18% | $5,863 |
| Federal student loans | 28% | $6,217 |
For on-campus title-IV students, average grant aid came to $13,283.
Since aid is largely need-based, the real cost of attendance falls steeply for lower-income families.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $7,433 |
| $30,001 – $75,000 | $9,466 |
| Over $75,000 | $24,133 |
Each figure is the net price after grants and scholarships, not the published sticker price.
Net price is the cost remaining after grant and scholarship aid is subtracted from the sticker price, and it is the most useful single number for estimating real cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $16,778 |
| Off-campus title-IV students | $17,139 |
For a customized cost estimate, visit UMN Twin Cities’s online cost calculator: admissions.tc.umn.edu/cost-aid/cost-aid-scholarships/net-price-calculator.
The median student at UMN Twin Cities graduates with $16,727 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $16,727 |
| Median federal debt (graduates only) | $19,500 |
| Typical 10-year monthly payment (graduates) | $206.73/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
The median alone does not show how widely outcomes vary across the student body. The percentiles below describe the cumulative federal debt distribution for borrowers at UMN Twin Cities.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,500 |
| 25th percentile | $8,374 |
| 75th percentile | $25,182 |
| 90th percentile (highest-debt students) | $29,795 |
Median debt varies by family income, by first-generation status, and by dependency status.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $13,990 |
| Middle income | $15,669 |
| High income | $17,750 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,180 |
| Continuing-generation students | $17,018 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $16,500 |
| Independent students | $18,000 |
These indicators are derived from the underlying debt data and summarize the overall picture at UMN Twin Cities.
The Stafford loan program is the largest source of federal direct loans to undergraduates. The totals below capture Stafford lending at UMN Twin Cities:
| Metric | Value |
|---|---|
| Stafford loan recipients | 108174 |
| Total Stafford loan amount | $3,096,591,829 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 400 |
| Total GI Bill amount | $6,620,829 |
| Average GI Bill amount per recipient | $16,552 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 97 |
| Total DoD amount | $301,472 |
| Average DoD amount per recipient | $3,108 |
References
More about our data sources and methodologies.