With the cost of attendance at the University of Minnesota coming in at around $21,946 for in-state students and $48,826 for out-of-state students, knowing what financial aid and student loan options are available makes all the difference.
Scholarships, grants, and loans are available to University of Minnesota students to help lighten the financial burden of a college education. After reviewing this guide, you should have all the information you need to make the best decision on how to fund your education at the University of Minnesota.
Gift aid in the form of scholarships is by far the most appealing way to pay down the cost of an education at the University of Minnesota. With possible rewards available that pay the full cost of attendance, and no requirement to pay back funds, scholarships are highly coveted and extremely competitive.
With scholarships administered by the Office of Student Finance, university departments, and other outside organizations, there’s no shortage of scholarships for you to apply to.
This scholarship was created by the Thielen Family Scholarship Fund to provide assistance to employed part-time students who would have trouble paying for college without financial help.
To be eligible for this scholarship, you must:
This scholarship is available to apply between April and June. Click here to apply.
This scholarship is provided by the University of Minnesota Women’s Club to help Minnesota residents who have demonstrated academic ability and leadership experience.
This scholarship is available to apply between April 1st and June 15th. Click here to apply.
These scholarships are available to help Jewish-American students interested in pursuing a degree at the University of Minnesota.
According to the Estate of LaVerne Noyes,
“The purpose of LaVerne Noyes in establishing these scholarships was to express his gratitude to, and in a slight degree to reward, those who ventured the supreme sacrifice of life for this country and for mankind in this war for the liberty of the world, and, also, to aid in keeping alive, for generations to come, the spirit of unselfish patriotic devotion which these men displayed and without which no free government can long endure.”
This scholarship is available to students of Ukranian ancestry with financial need who have a connection to their nationality, and who are interested in helping to improve other students of a similar background.
Each department within the University of Minnesota system selects recipients for their scholarships based on a variety of criteria. For specific information on eligibility and the application process in your department, follow the links below:
The University of Minnesota works in partnership with a variety of outside organizations and agencies to provide the following cooperative scholarships:
The University of Minnesota recommends the following resources to help find other scholarships available:
The University of Minnesota recommends the following tools and resources to help find additional scholarships from outside organizations:
Grants and waivers are another great way to cut down on the cost of an education at the University of Minnesota. Grants are awarded based on financial need (as determined by the Free Application for Federal Student Aid (FAFSA)) and other specific criteria depending on the source of funds.
Upon filing the FAFSA and being accepted into the University of Minnesota, you are automatically considered for the following grants:
In addition to the above, there are also grants available that you have to apply to, including:
If you are interested in working while attending the University of Minnesota, the Federal Work-Study Program is the perfect opportunity. Work-study is awarded as part of your financial aid package and is dependent on financial need.
While filling out the FAFSA, you must indicate you are interested in the Federal Work-Study Program before being able to apply for work-study jobs on campus. Work-study jobs are not guaranteed, and like any other job, you must apply for positions that you’re interested in.
For more information on the work-study program at the University of Minnesota, click here.
If grants, scholarships, and work-study are not enough to cover the cost of attendance at the University of Minnesota, student loans are your last option. There are plenty of student loans available — student loans from the Federal government, the University of Minnesota, and private lenders.
Of all the student loan options available, federal student loans have the best terms and benefits. They usually have lower interest rates than private loans, and some don’t require you to begin repaying until you’ve finished school. To apply for federal loans, you have to file a FAFSA, which will determine your eligibility.
For more information on federal and University of Minnesota student loans, follow the links below:
Federal loans
Federal Parent PLUS Loan
University Trust Fund Loan (UTFL)
Nursing loan
SELF loans
If all else fails, your last option is to take out a private student loan. These usually come with higher interest rates, which makes them less appealing than federal student loans. It is recommended that you revisit your Financial Aid Package and make sure you’ve exhausted all other options before opting for one of these.
For help finding information on private student loans, the University of Minnesota recommends FASTChoice.