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Home > Paying for College > Financial Aid You Don't Repay > Minnesota State Grant > Private College Example

 

Private College Example

Private College Example decorative image

An example of a student's expenses.


 

Shared Responsibility: Example 2

This is an award calculation for a typical private 4-year college. In 2016-2017, the state recognizes the price of attending the school at $23,506 a year. That includes tuition and fees of $14,186*, plus $9,320 for living and miscellaneous costs.

*IMPORTANT NOTE: The total tuition and fees at a typical private college are actually $37,355 in 2016-2017. But for the State Grant Program, only $14,186 is recognized in the award calculation. Therefore, a student may have to provide an additional $23,169 in tuition and fees not recognized by the state.

Example 2: Private College, Dependent Student

Price of Attendance
ExpensePrice
Tuition & Fees$14,186
Living & Misc. Allowance$9,320
Total$23,506

The student is expected to contribute 50 percent of the yearly cost, or $11,753. The remaining 50 percent of the yearly cost, or $11,753, comes from the contribution of the student's parents, and from federal and state grants.

If the student comes from a family that can't afford to contribute to the education (based on its financial need analysis as determined by the FAFSA application), then the student would be eligible for federal and state grants totaling $11,753, the 50 percent share not provided by the student.

Source of Funds
SourceCost
Student's Share$11,753
Parent's Share$0
Federal Pell Grant$5,815
State Grant$5,938
Total$23,506

If the student comes from a family that is able to contribute $1,000, (again, based on its financial need analysis as determined by the FAFSA application), then the student would be eligible for federal and state grants totaling $11,753 (the 50 percent share less the parent's $940 contribution).

Source of Funds
SourceCost
Student's Share$11,753
Parent's Share$940
Federal Pell Grant$4,865
State Grant$5,948
Total$23,506

The student may receive additional grant assistance from private or institutional sources that are under the control of the campus financial aid administrator. Receipt of these additional grants does not affect the size of the State Grant or the Federal Pell Grant. This additional assistance can be used to help meet the student's required contribution.