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 2011, financial aid totaling $3.4 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 $1.5 billion in grants and scholarships, $1.7 billion in loans and $46 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 2011, Minnesota students received $120 million in state need-based aid:
- $120 million in Minnesota State Grants were made to approximately 89,000 Minnesota residents attending Minnesota post secondary institutions as undergraduates.
- $6.5 million in Postsecondary Child Care Grants were made to about 3,000 undergrads.
- $1.2 million in Achieve Scholarships during Fiscal Year 2011 to 1,100 Minnesota high school graduates who completed a rigorous program of study in high school.
- $74,000 went to the survivors of safety officers killed in the line of duty.
- $570,000 in Minnesota GI Bill awards to 400 veterans.
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 2011, about 10,700 students earned $20 million (includes 25% employer share of earnings) in state work study jobs.
- 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 2011, 13,600 Minnesota undergraduates borrowed approximately $70 million in SELF Loans.
Find staff reports on student financial aid and data about Minnesota's student financing programs.