Financial aid
One Stop Student Services and the Office of Student Finance are committed to
providing information and resources to assist you in meeting the costs of a
University education. Federal, state, and institutional funds are described
below and in the "Read About" links on the left. Use
the Quick Links on the right to learn how your student status qualifies you
for aid opportunities and tax advantages, in addition to other essential resources.
Your first step is to fill out the Free Application for Federal Student
Aid (FAFSA), regardless of your family's financial status. Your FAFSA
information determines your eligibility for a broad range of financial
aid. Even if you do not have financial need, according to your FAFSA
results, everybody qualifies for some form of financial aid.
If you submit your FAFSA by priority deadline for incoming
freshmen of March 1 or, if you are a returning student, April
1, you increase the likelihood that you will receive grants and/or
scholarships that do not have to be repaid. While gift aid is the most desirable
type of aid, some funds may be limited. Once funds allocated for the aid year
have been exhausted, no more awards can be made, even though you may be eligible.
You may apply for other sources of financial aid, such as the Federal Pell Grant
and direct subsidized and unsubsidized loans, throughout the academic year.
Be sure your completed FAFSA includes the University of Minnesota,
Twin Cities Federal School Code 003969. The federal processor uses the code
to send the University your FAFSA results, on which your financial aid eligibility
is determined. If possible, use income and related information from your completed
tax return, instead of estimated figures.
An online tool from the Minnesota Office of Higher Education estimates the amount of federal, state, and University-based grants, along with federal education tax benefits, that may be available to you to attend the University of Minnesota. Actual grant amounts, including other types of financial aid (scholarships, work-study, loans), will be awarded only after you submit a FAFSA.
Once your FAFSA results are received by the University, you
will be awarded financial aid, according to your eligibility. You are considered
first for gift aid, then work-study (if requested on the FAFSA or earned last
year), and last, loans, from one or more of the following sources:
- Grants, waivers, and education benefits
Grant awards are based on your financial need as calculated
by a federally-mandated formula and other eligibility as determined by the
University of Minnesota. Tuition waivers and education benefits may have additional
eligibility requirements or applications.
- Scholarships
University, college, and departmental scholarships, national
and local awards; resources for searching and tips for successful application
- Work-study
Federal or state funds that are paid as a wage
- Loans
University-based, federal, state, and private loans
