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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.


Search 2016 Data Tables

The Office of Higher Education collects and reports data on federal, state, and privately funded financial aid awarded to undergraduates attending Minnesota postsecondary institutions. Financial aid includes grants and scholarships, student loans, and student earnings from work study jobs. Information is obtained from campus financial aid offices and the Office of Higher Education records.


2016 Financial Aid Highlights

Aid changes mirrors changes in enrollment, as both total financial aid and total undergraduate enrollment declined. Aid dropped significantly at private for-profit institutions while all other sectors experienced smaller declines. Grant aid remained stable statewide while varied changes occurred across sectors. Grant aid remained stable at public four-year universities, while increasing at private not-for-profit institutions and declining at Minnesota State Colleges and private for-profit institutions. Loan volume decreased across all sectors, with Minnesota State Colleges and private for-profit institutions experiencing the sharpest decline. Work study remained stable across all sectors, except for a sharp decline at private not-for-profit institutions and an increase at private for-profit institutions.


Total Financial Aid Declined during 2015-2016, Driven by Declining Enrollment

Recent declines in total financial aid mirror recent declines in enrollment. Statewide, enrollment has declined 15 percent since 2011 (academic year 2010-2011) while aid has declined 19 percent over the same time period. In 2016 (academic year 2015-2016), total financial aid awarded to undergraduates fell to its lowest level since 2001 ($2.903 billion or $11,000 per undergraduate).

While financial aid declined statewide overall, award trends varied by sector:

  • At Minnesota State Colleges (public 2-year institutions), students received $635 million, ($6,200 per undergraduate - the lowest average among all sectors) with 103,086 undergraduates enrolled in fall 2015.
  • Students received $447 million ($8,800 per student) at Minnesota State Universities with 50,827 undergraduates enrolled in fall 2015.
  • At the University of Minnesota, students received $481 million ($10,600 per undergraduate), with 45,441 total undergraduates enrolled in fall 2015.
  • At the private non-profit institutions, students received $1.187 million ($24,300 per undergraduate), corresponding to their higher cost of attendance with 48,895 undergraduates enrolled in fall 2015.
  • At private for-profit institutions, students received ($153 million ($9,800 per student), with 15,648 total undergraduates enrolled in fall 2015.


Grants and Scholarships Stable in 2016

While total aid declined, total awarded undergraduate grants and scholarships remained stable. Changes in grant amounts awarded over time vary by institution.

  • Students' grant aid from all sources at Minnesota State Colleges decreased in 2016 ($268 million) as compared to 2011 ($310 million).
  • Grant aid at Minnesota State Universities decreased to $151 million.
  • Total University of Minnesota grant aid ($225 million in 2016) remained unchanged ($225 million in 2011).
  • Grant aid increased at private-not-for-profit institutions to $807 million in 2016 as compared to $660 in 2011.
  • Grant aid to students at private for-profit institutions decreased in 2016 ($53 million) as compared to 2011 ($167 million).


Loan Volume Declined in 2016

Total loans awarded declined to $1.36 billion in 2016. This was compared to $1.850 billion in 2011, a year in which enrollments increased significantly and Minnesota experienced an economic recession. The decline in loan volume can largely be attributed to declines in student loans at private for-profit institutions.

When analyzed by institution sector, all sectors experienced declines in total loans. Students borrowed the following loan aid:

  • $358 million at Minnesota State Colleges.
  • $289 million at Minnesota State Universities.
  • $250 million at the University of Minnesota.
  • $365 million at private not-for-profit institutions.
  • $98 million at private for-profit institutions.


Work Study Funding Declines Slightly

Students received $37 million in work study aid in 2016 as compared to a high of $47.6 million in 2013 in part to spending by the federal government.

When analyzed by institution sector, work study aid declined in all sectors, except private for-profit institutions. Students received the following work study aid:

  • $9.3 million at Minnesota State Colleges.
  • $6.2 million at Minnesota State Universities.
  • $5.6 million at the University of Minnesota.
  • $14.7 million at private not-for-profit institutions.
  • $1.6 million at private for-profit institutions.


Financial Aid Awarded to Undergraduates at Minnesota Institutions
Source of Aid
2005 2007 2009 2011 2013 2015 2016
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
State of Minnesota $287,532,060 $324,634,094 $307,773,684 $387,428,358 $279,183,419 $275,265,745 $283,085,008
Postsecondary Institutions $370,755,989 $420,973,102 $541,866,453 $663,163,566 $737,102,530 $786,374,386 $829,529,612
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
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
Type of Aid
2005 2007 2009 2011 2013 2015 2016
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
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
Loans to Parents $99,855,268 $140,599,912 $118,704,439 $161,056,571 $139,959,733 $134,682,764 $133,671,947
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
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

Source: Office of Higher Education, Financial Aid Awarded Survey


Federal Aid Awarded to Minnesota Undergraduates

Amount of Aid
Program FY 2005 FY 2007 FY 2009 FY 2011 FY 2013 FY 2015 FY 2016
Federal Pell Grants $179,390,808 $178,788,009 $263,967,345 $512,664,048 $481,335,035 $410,508,355 $363,780,632
Federal SEOG Grants $20,925,222 $20,628,628 $20,622,242 $21,197,558 $20,926,183 $19,346,264 $19,058,427
Federal Academic Competitiveness Grants $4,610,573 $6,507,744 $10,380,323 $0 $0 $0
Federal SMART Grants $3,451,522 $3,210,231 $7,961,670 $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
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
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
Federal Perkins Loans $31,610,579 $27,411,830 $15,763,483 $17,196,684 $20,905,261 $24,409,256 $21,424,992
Federal PLUS $99,855,268 $140,599,912 $118,704,439 $161,056,571 $139,959,733 $134,682,764 $133,671,947
Other Federal Agency Loans $771,672 $1,181,971 $633,304 $574,045 $2,052,121 $1,771,529 $1,266,480
Federal Work-Study $20,548,458 $19,580,563 $20,156,879 $26,248,633 $27,387,653 $23,431,033 $23,056,144
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

Source: Office of Higher Education, Financial Aid Awarded Survey



Number of Undergraduates Receiving Federal Aid
Program FY 2005 FY 2007 FY 2009 FY 2011 FY 2013 FY 2015 FY 2016
Federal Pell Grants 81,816 80,366 98,691 153,295 151,399 122,841 107,874
Federal SEOG Grants 22,180 23,433 23,795 33,094 31,056 27,066 26,946
Federal Academic Competitiveness Grants 5,731 8,207 13,486 0 0 0
Federal SMART Grants 1,067 1,043 2,605 0 0 0
Federal Stafford Subsidized Loans 92,989 99,638 113,588 184,940 180,510 142,083 122,884
Federal Stafford Unsubsidized Loans 65,360 73,597 113,648 191,127 184,899 146,771 129,721
Federal Perkins Loans 13,835 11,900 7,506 9,447 10,167 11,521 9,259
Federal PLUS 13,503 19,204 13,238 16,226 14,598 11,900 11,522
Federal Work-Study 16,047 12,788 12,731 14,971 15,167 12,725 12,567
Total Students 305,730 327,724 392,447 619,191 587,796 474,907 420,773

Source: Office of Higher Education, Financial Aid Awarded Survey


Prior Reports

2015

2013

2011

2009

2007

2005

2003

2001

1999