$5,466

Avg. Federal Grant

$5,458

Avg. Federal Loan

$3,152,265

Total Aid Awarded

University of Minnesota-Rochester Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

74%

Total Aid Amount Average Total Aid Awarded per year.

$3.152M

Financial Aid Official Website

https://onestop.r.umn.edu/finances/receiving-financial-aid

It is interesting to note that, every year, around 90% of students at UMR receive some kind of financial aid, while the total amount of assistance/loans provided is $1,881,043. At UMR, the total percentage of applicants who receive the Federal Grant stands at 32%. In comparison, 70% of the students are awarded the Student Grant, 63% get the Institution Grant, and 32% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,351, and the same stands at $6,210 for State Grant awardees and $2,830 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,910. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 63% of the applicants to University of Minnesota-Rochester opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

33%

State Grant Aid

50%

Institution Grant Aid

71%

Pell Grant

33%

Average Aid Awarded

Federal Grant Aid

$5,466

State Grant Aid

$5,270

Institution Grant Aid

$3,643

Pell Grant

$4,934

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$18,293

$30,001 - $48,000

$16,650

$48,001 - $75,000

$11,598

$75,001 - $110,000

$4,569

Over $110,000

$943

Student Loans for University of Minnesota-Rochester

Average Loan Amount Average Loan Amount received per year.

$8,093/Year

Students Taking Out Loans

69%

Loan Default Rate

N/A

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