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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 2019-2020, 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.

Roughly one third of grants that these students received in 2019-2020 came from federal or state sources. Almost 60% of 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 $1.6 billion in 2019-2020.

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Download a .xls sheet of financial aid received in 2019-2020
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Most aid that students receive comes from federal sources

For most institutions, the primary source of aid is federal aid. Just under half of all aid received in 2019-2020 came from federal sources, totaling nearly $1.2 billion. Roughly 70% of federal aid awarded was in the form of loans. At Minnesota State Universities and private-for-profit institutions, more than half of all aid students received came in the form of loans. At Minnesota State Colleges and the University of Minnesota system, loans represented just under half of all aid received. However, for students at private non-profit institutions, institutional aid made up nearly two-thirds of aid awarded to students. Institutional aid is primarily offered as grants, and sometimes as direct tuition discounts.

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Historic trends in financial aid awarded

For most institutions, the primary source of aid is federal aid. Just under half of all aid received in 2019-2020 came from federal sources, totaling nearly $1.2 billion. Roughly 70% of federal aid awarded was in the form of loans. At Minnesota State Universities and private-for-profit institutions, more than half of all aid students received came in the form of loans. At Minnesota State Colleges and the University of Minnesota system, loans represented just under half of all aid received. However, for students at private non-profit institutions, institutional aid made up nearly two-thirds of aid awarded to students. Institutional aid is primarily offered as grants, and sometimes as direct tuition discounts.

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Financial Aid Awarded to Undergraduates at Minnesota Institutions
Source of Aid
2009 2011 2013 2015 2016 2017 2018 2019 2020
Federal Government $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 $1,275,430,474 $1,205,467,099
State of Minnesota $307,773,684 $387,428,358 $279,183,419 $275,265,745 $283,085,008 $270,750,405 $270,531,262 $289,650,382 $280,406,970
Postsecondary Institutions $541,866,453 $663,163,566 $737,102,530 $786,374,386 $829,529,612 $930,721,920 $930,721,920 $999,282,598 $999,282,598
Private and Other Sources $260,504,758 $240,384,582 $239,687,859 $239,519,421 $242,547,720 $250,394,647 $250,394,647 $268,603,195 $259,219,971
$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 $2,790,264,769 2,744,376,638
Type of Aid
2009 2011 2013 2015 2016 2017 2018 2019 2020
Grants from All Sources $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 $1,547,238,777 $1,559,169,538
Loans to Students $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 $993,652,375 $944,715,969
Loans to Parents $118,704,439 $161,056,571 $139,959,733 $134,682,764 $133,671,947 $121,258,582 $123,949,866 $119,547,756 $110,790,169
Student Earnings from Work Study Jobs $37,708,832 $45,847,673 $47,607,185 $38,640,626 $37,429,765 $34,100,298 $35,818,521 $59,474,737 $56,455,838
Total $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 $2,790,264,769 $2,744,376,638

Source: Office of Higher Education, Financial Aid Awarded Survey


Federal Aid Awarded to Minnesota Undergraduates

Amount of Aid
Program 2009 2011 2013 2015 2016 2017 2018 2019 2020
Federal Pell Grants $263,967,345 $512,664,048 $481,335,035 $410,508,355 $363,780,632 $332,494,158 $346,439,425

$344,242,795

$327,716,909
Federal SEOG Grants $20,622,242 $21,197,558 $20,926,183 $19,346,264 $19,058,427 $18,664,998 $18,573,957

$19,808,867

$19,621,420
Federal Academic Competitiveness Grants $6,507,744 $10,380,323 $0 $0 $0 $0 $0 $0 $0
Federal SMART Grants $3,210,231 $7,961,670 $0 $0 $0 $0 $0

$0

$0
Other Federal Agency Grants $6,698,234 $21,776,982 $18,501,528 $7,719,386 $6,361,439 $6,386,597 $4,845,004

$7,452,683

$10,076,395
Federal Stafford Subsidized Loans $410,797,996 $685,332,255 $643,552,870 $525,479,384 $454,353,446 $400,300,763 $386,415,243

$347,183,002

$316,449,938
Federal Stafford Unsubsidized Loans $477,385,787 $742,323,243 $692,966,605 $616,096,314 $524,764,200 $478,962,428 $450,372,145 $415,234,673 $398,518,503
Federal Perkins Loans $15,763,483 $17,196,684 $20,905,261 $24,409,256 $21,424,992 $17,798,554 $17,301,775 $0 $0
Federal PLUS $118,704,439 $161,056,571 $139,959,733 $134,682,764 $133,671,947 $121,258,582 $123,949,866

$119,547,756

$110,790,169
Other Federal Agency Loans $633,304 $574,045 $2,052,121 $1,771,529 $1,266,480 $583,431 $816,374

$648,488

$624,002
Federal Work-Study $20,156,879 $26,248,633 $27,387,653 $23,431,033 $23,056,144 $19,828,850 $21,710,191

$21,285,949

$21,669,763
Totals $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

$1,275,404,213

$1,205,467,099

Source: Office of Higher Education, Financial Aid Awarded Survey

Number of Undergraduates Receiving Federal Aid
Program 2009 2011 2013 2015 2016 2017 2018 2019 2020
Federal Pell Grants 98,691 153,295 151,399 122,841 107,874 98,088 97,946

93,997

88,526
Federal SEOG Grants 23,795 33,094 31,056 27,066 26,946 25,220 24,285

26,421

24,749
Federal Academic Competitiveness Grants 8,207 13,486 0 0 0 0 0 0 0
Federal SMART Grants 1,043 2,605 0 0 0 0 0 0 0
Other Federal Agency Grants 0 0 0 0 0 1,391 1,368

1,257

2,306
Federal Stafford Subsidized Loans 113,588 184,940 180,510 142,083 122,884 109,547 104,742

94,682

86,589
Federal Stafford Unsubsidized Loans 113,648 191,127 184,899 146,771 129,721 119,927 114,182

104,813

99,751
Federal Perkins Loans 11,900 9,447 10,167 11,521 9,259 7,899 7,801 0 0
Federal PLUS 13,238 16,226 14,598 11,900 11,522 10,181 10,172

9,370

8,296
Other Federal Agency Loans 0 0 0 0 0 181 247

188

181
Federal Work-Study 12,731 14,971 15,167 12,725 12,567 10,350 11,056

10,175

10,511
Total Students 305,730 327,724 392,447 619,191 587,796 474,907 420,773 382,784
371,799

Source: Office of Higher Education, Financial Aid Awarded Survey


Prior Reports

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