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Financial Aid Awarded to Undergraduates Attending Minnesota Institutions


Financial aid data for each Minnesota postsecondary institution

Financial aid makes college affordable for many students. The amount and type of aid available to a student varies. Grants and scholarships lower the cost of college per student, while work study and loans allow students to pay for college by increasing current income or deferring payment to future income. The combination of types of aid and amounts available to an individual student may influence his or her decision to go to college, or which college he or she chooses.


Grants and loans make up most of the aid students receive

In 2017-2018, undergraduates enrolled in Minnesota institutions received roughly $2.8 billion in financial aid. In Minnesota, students are eligible to receive federal grants (such as the Pell grant), the Minnesota State Grant, other grants administered by the state (such as the Postsecondary Child Care Award), and grants from institutional and private sources. More than half of all aid students receive are grants, and the total amount of grants received varies by institution type.

Nearly 40% of grants that these students received in 2017-2018 came from federal or state sources. More than half of all grants received were from institutions themselves. These grants are primarily offered at private non-profit institutions and the University of Minnesota. Aid in the form of grants (from all sources) totaled $1.5 billion in 2017-2018.

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Download a .xls sheet of financial aid received in 2017-2018
Download a .pdf of financial aid received in 2017-2018

Most aid that students receive comes from federal sources

Roughly half of all aid received in 2017-2018 came from federal sources, totaling $1.4 billion. Overall, three-quarters of federal aid were loans. For most institutions, the primary source of aid is federal aid. At public and private for-profit institutions, more than half of all aid students received came in the form of loans. However, for students at private non-profit institutions, institutional aid made up the bulk of most financial aid packages. Institutional aid is primarily offered as grants, and sometimes as tuition discounts. Institutional-based loans were rare in 2017-2018.

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Total financial aid does not cover the cost of college for most undergraduates

Statewide, undergraduates spend roughly $6.7 billion to attend college. This figure includes the average cost of tuition and fees, as well as other costs that make up the total cost of attendance for all students. These other costs include books and supplies, transportation, room and board, and other related college expenses.

For the average student, grants make up less than a third of the cost of attendance, and this figure varies by institution. The remaining cost of attendance is covered by loans or savings and current income from students and their families.

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Historic trends in financial aid awarded

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Financial Aid Awarded to Undergraduates at Minnesota Institutions
Source of Aid
2005 2007 2009 2011 2013 2015 2016 2017 2018
Federal Government $1,014,026,092 $1,112,702,833 $1,653,086,861 $2,206,712,012 $2,047,586,989 $1,763,444,285 $1,547,737,707 $1,396,278,361 $1,370,423,980
State of Minnesota $287,532,060 $324,634,094 $307,773,684 $387,428,358 $279,183,419 $275,265,745 $283,085,008 $270,750,405 $270,531,262
Postsecondary Institutions $370,755,989 $420,973,102 $541,866,453 $663,163,566 $737,102,530 $786,374,386 $829,529,612 $930,721,920 $930,721,920
Private and Other Sources $197,398,151 $265,969,582 $260,504,758 $240,384,582 $239,687,859 $239,519,421 $242,547,720 $250,394,647 $250,394,647
Total $1,869,712,292 $2,124,279,612 $2,763,231,756 $3,397,688,518 $3,303,560,796 $3,064,603,837 $2,902,900,047 $2,822,071,809 $2,822,071,809
Type of Aid
2005 2007 2009 2011 2013 2015 2016 2017 2018
Grants from All Sources $781,903,077 $864,343,958 $1,071,431,191 $1,501,752,297 $1,523,443,150 $1,507,712,055 $1,505,064,494 $1,449,085,623 1,512,192,515
Loans to Students $949,349,799 $1,079,720,410 $1,535,387,297 $1,689,031,977 $1,592,550,278 $1,383,568,392 $1,226,733,841 $1,112,061,798 1,086,662,436
Loans to Parents $99,855,268 $140,599,912 $118,704,439 $161,056,571 $139,959,733 $134,682,764 $133,671,947 $121,258,582 $123,949,866
Student Earnings from Work Study Jobs $38,604,148 $39,615,331 $37,708,832 $45,847,673 $47,607,185 $38,640,626 $37,429,765 $34,100,298 $35,818,521
Total $1,869,712,292 $2,124,279,612 $2,763,231,759 $3,397,688,518 $3,303,560,796 $3,064,603,837 $2,902,900,047 $2,716,506,301 $2,822,071,809

Source: Office of Higher Education, Financial Aid Awarded Survey


Federal Aid Awarded to Minnesota Undergraduates

Amount of Aid
Program 2005 2007 2009 2011 2013 2015 2016 2017 2018
Federal Pell Grants $179,390,808 $178,788,009 $263,967,345 $512,664,048 $481,335,035 $410,508,355 $363,780,632 $332,494,158 $346,439,425
Federal SEOG Grants $20,925,222 $20,628,628 $20,622,242 $21,197,558 $20,926,183 $19,346,264 $19,058,427 $18,664,998 $18,573,957
Federal Academic Competitiveness Grants 0 $4,610,573 $6,507,744 $10,380,323 $0 $0 $0 $0 $0
Federal SMART Grants 0 $3,451,522 $3,210,231 $7,961,670 $0 $0 $0 $0 $0
Other Federal Agency Grants $5,968,998 $5,169,468 $6,698,234 $21,776,982 $18,501,528 $7,719,386 $6,361,439 $6,386,597 $4,845,004
Federal Stafford Subsidized Loans $273,892,454 $295,998,660 $410,797,996 $685,332,255 $643,552,870 $525,479,384 $454,353,446 $400,300,763 $386,415,243
Federal Stafford Unsubsidized Loans $210,325,683 $246,983,899 $477,385,787 $742,323,243 $692,966,605 $616,096,314 $524,764,200 $478,962,428 $450,372,145
Federal Perkins Loans $31,610,579 $27,411,830 $15,763,483 $17,196,684 $20,905,261 $24,409,256 $21,424,992 $17,798,554 $17,301,775
Federal PLUS $99,855,268 $140,599,912 $118,704,439 $161,056,571 $139,959,733 $134,682,764 $133,671,947 $121,258,582 $123,949,866
Other Federal Agency Loans $771,672 $1,181,971 $633,304 $574,045 $2,052,121 $1,771,529 $1,266,480 $583,431 $816,374
Federal Work-Study $20,548,458 $19,580,563 $20,156,879 $26,248,633 $27,387,653 $23,431,033 $23,056,144 $19,828,850 $21,710,191
Totals $1,014,026,092 $1,112,702,833 $1,653,086,861 $2,206,712,012 $2,047,586,989 $1,763,444,285 $1,547,737,707 $1,396,278,361 $1,370,423,980

Source: Office of Higher Education, Financial Aid Awarded Survey

Number of Undergraduates Receiving Federal Aid
Program 2005 2007 2009 2011 2013 2015 2016 2017 2018
Federal Pell Grants 81,816 80,366 98,691 153,295 151,399 122,841 107,874 98,088 97,946
Federal SEOG Grants 22,180 23,433 23,795 33,094 31,056 27,066 26,946 25,220 24,285
Federal Academic Competitiveness Grants 0 5,731 8,207 13,486 0 0 0 0 0
Federal SMART Grants 0 1,067 1,043 2,605 0 0 0 0 0
Other Federal Agency Grants 0 0 0 0 0 0 0 1,391 1,368
Federal Stafford Subsidized Loans 92,989 99,638 113,588 184,940 180,510 142,083 122,884 109,547 104,742
Federal Stafford Unsubsidized Loans 65,360 73,597 113,648 191,127 184,899 146,771 129,721 119,927 114,182
Federal Perkins Loans 13,835 11,900 7,506 9,447 10,167 11,521 9,259 7,899 7,801
Federal PLUS 13,503 19,204 13,238 16,226 14,598 11,900 11,522 10,181 10,172
Other Federal Agency Loans 0 0 0 0 0 0 0 181 247
Federal Work-Study 16,047 12,788 12,731 14,971 15,167 12,725 12,567 10,350 11,056

Source: Office of Higher Education, Financial Aid Awarded Survey


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