by our College Data Analytics TeamThe total cost of attendance at Saint Mary’s University of Minnesota can seem overwhelming, but remember that the majority of students receive some sort of financial assistance. This could be in the form of scholarships, grants, work-study, or loans.
The amount of financial assistance and scholarships or grants you can get varies based on your circumstances. Keep reading to learn more to help you to know just how much aid and scholarships to expect from SMU MN.
$27,210.00 is the typical Saint Mary’s University of Minnesota’s first year financial aid package. Financial aid is provided to about 100% of first-year students, with the bulk of support coming in the form of grants and scholarships.
Financial aid helps lower the cost, or the full retail price of the institution. But bear in mind that the only true college discount is scholarships & grants.
A loan is not a legitimate college discount, but rather an outcome to consider. See how much student loan debt from Saint Mary’s University of Minnesota you may end up taking on.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The numbers below apply to scholarships and grants primarily provided by Saint Mary’s University of Minnesota.
100% of first-year students (301 total) were offered scholarships at Saint Mary’s University of Minnesota, averaging $23,774.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 86% of freshman students (260 total) obtained federal grant aid, averaging $2,544.00 a piece.
The next table demonstrates grant and scholarship distributions by income level for freshmen getting any form of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 11.96% | $33,399.00 |
| Income 30k-48k | 4.65% | $32,707.00 |
| Income 48k-75k | 10.63% | $30,517.00 |
| Income 75k-110k | 15.28% | $28,589.00 |
| Income 110k + | 31.56% | $24,359.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
Of the 301 undergraduate students at Saint Mary’s University of Minnesota around 100% (301 total) receive some form of grant aid. The typical amount awarded was $27,210.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.