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Minnesota Office of Higher Education

Home > Paying for College > About Financial Aid > Sources and Types of Financial Aid

 

Sources and Types of Financial Aid

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Where does the money come from?


 

Financial aid comes from four key sources:

The school will draw upon funds from all available sources to create a financial aid package.

In the 2012-2013 academic year, students attending Minnesota institutions received financial aid totaling $3.4 billion from state and federal governments, colleges, and private sources. This included:

  • $1.5 billion in grants, scholarships, or price discounts
  • $1.7 billion in student loans
  • $140 million in parent loans
  • $47.6 million in work-study earnings

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