The Office of Higher Education administers Minnesota's statewide financial aid programs and tuition reciprocity agreements with neighboring states.
These programs are an important part of overall funding for higher education in Minnesota. They assist students and families in paying the tuition and fees charged for postsecondary education.
In 2007, financial aid totaling $2.12 billion helped Minnesota students and families pay for postsecondary education. The money was provided by the state and federal governments, colleges, and private sources. Minnesota students received $864 million in grants and scholarships, $1 billion in loans and $39.6 million in work-study earnings.
Minnesota devotes most of its state-funded financial aid to students from low- and moderate-income families. In Fiscal Year 2008, Minnesota students received more than $130 million in state need-based aid (.pdf):
- $148.7 million in Minnesota State Grants was made to approximately 83,200 Minnesota residents attending Minnesota post secondary institutions as undergraduates.
- $6.0 million in Postsecondary Child Care Grants were made to about 2,900 undergrads.
- $2.7 million in Achieve Scholarships during Fiscal Year 2009 to Minnesota high school graduates who completed a rigorous program of study in high school.
- $48,000 to the survivors of safety officers killed in the line of duty.
Additional student financial aid is available to Minnesota students through work and loans:
- The state subsidizes a number of work study programs at schools around the state. In 2008, about 11,000 students earned $20 million in state work study jobs. (Includes 25% employer share of earnings.)
- Minnesota also operates a state loan program, the Student Educational Loan Fund (SELF), for students and families who have exhausted or do not qualify for need-based aid. In Fiscal Year 2008, 28,300 Minnesota students borrowed approximately $141.6 million in SELF Loans.
Search Fiscal Year 2007 data, to see total dollars and number of undergraduate aid recipients at individual institutions.
Find staff reports on student financial aid and data about Minnesota's student financing programs.
