Financial aid application process
The financial aid system is based on the goal of equal access-that anyone should be able to attend college, regardless of financial circumstances. Students and their families are expected to contribute as much as they can to the cost of a attending college. If your family is unable to pay the entire cost, financial aid is available to help you.
To receive financial aid you have to apply. To apply, you need to complete a Free Application for Federal Student Aid, or FAFSA, form. Everything you need to apply can be found on the FAFSA Web site. Many additional tools about applying for college and financial aid can be found on the Student Aid on the Web informational site in English or Spanish.
Scholarships, grants, loans, and work-study
Money from federal, state, college, and private programs come in the form of grants, loans, scholarships or college work-study programs. About two-thirds of students attending Minnesota State Colleges and Universities receive financial aid. Grants are awarded to you by the state and federal governments based on criteria you must meet. Scholarships are awarded for academic and other achievements (music, athletics, etc.), financial need, you or your family's membership in a group, or your special interests or talent. There are many opportunities for this type of funding.
Tuition & fees
The state of Minnesota pays a portion of the cost of education for Minnesota residents. In fact, for every dollar you pay in tuition, Minnesota pays $1.07 to support your education. Tuition at Minnesota State Colleges and Universities is lower than tuition at private colleges, private trade schools and the University of Minnesota. The system average for 2007-2008 tuition and fees (30 credits per year) is a low $4,718. (More about tuition and fees)
Money management
As you begin college, this is a perfect time to learn how to manage your money. You can find information about how to get the most from your money. On the Money management for students page you can find additional information on topics such as budgeting, student loans, credit card tips, types of debt and your credit rating.
College costs
College cost comparisons
Find cost comparison information for Minnesota State Colleges and Universities, private two-year colleges, private four-year colleges and universities and the University of Minnesota.
College cost calculator
Check out this convenient cost calculator provided by CollegeBoard. If you have a particular college in mind, you can project from actual costs or use the average costs provided.
