OVERVIEW PROGRAMS AND TUITION ADMISSIONSFINANCIAL AID

Saint Mary's University of Minnesota Financial Aid and Scholarships 2022

Saint Mary’s University is accredited by the Higher Learning Commission (HLC). For those of you unaware of the HLC, it is an independent corporation founded in 1895 as one of the six regional institutional accreditors in the USA. Moreover, many of SMUMN’s programs have been approved by specialized organizations, boards, and state agencies.

The university is also accredited to the Minnesota Off

Saint Mary's University of Minnesota Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

80%

Total Aid Amount Average Total Aid Awarded per year.

$26.464M

Financial Aid Official Website

www.smumn.edu/admission/undergraduate/financial-aid

As compared to the national average of $40,550, Saint Mary’s tuition is on the cheaper end at $36,670. This figure includes only the tuition and not the fees. The sticker price (tuition and fees), lies in the ballpark of $47,290. It is this figure that helps understand the quality of education and the services offered here.

Most students require financial assistance for various reasons. Financial aid is available in the form of scholarships, grants, and student loans. Students seeking financial help have to fill out the FAFSA form. Saint Mary’s University of Minnesota federal school code is 002380.

Scholarships

Cardinal Visit Scholarship: The Cardinal Visit Scholarship offers benefits up to $4,000. However, this scholarship can only be availed by first-year students. This renewable, $1,000 a year scholarship is given once students make an official campus tour after admission into Saint Mary’s.
Merit Scholarships: Merit scholarships depend strictly on the performance of the student. The scholarships vary depending on whether the candidate is a first-year student or a transfer student.
Talent Scholarships: Many talent scholarships are offered to the deserving. Scholarships for art, music, and theatre are offered to first-year and transfer students. Furthermore, the university also offers scholarships to nurture creativity and artistic talent.

Many organizations also offer a wide mix of private external scholarships. If you want to find out more about SMUMN’s scholarships, please visit their Scholarships Page .

Grants

Grants are a form of financial aid that does not need to be repaid. The university offers limited options for grants at the graduate and undergraduate level.

Federal Aid: Grants such as PELL Grant, TEACH Grant, along with loans such as Federal Unsubsidized Direct Loan and Federal Graduate Plus Loan are offered under this scheme.
Military Aid: SMUMN offers aid with the help of the Minnesota GI Bill and the Post 9/11 GI Bill.
State Aid: Grants such as Minnesota State Grant are provided with the help of the state.

SMUMN also offers various other loans and grants .

Understandably, we realize that SMUMN has not published any information on federal or state-based financial aid - particularly scholarships and loans - that they provide, so if you’d like to get more information on it, please visit their official website and contact their representatives.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

30%

State Grant Aid

29%

Institution Grant Aid

100%

Pell Grant

30%

Average Aid Awarded

Federal Grant Aid

$5,482

State Grant Aid

$4,849

Institution Grant Aid

$20,751

Pell Grant

$4,306

Stressed out about the financial breakdown? Don't worry, we have you covered! We have provided a detailed breakdown of the financial aid offered by the university.

SMUMN is able to meet the needs of around 99% of the students who apply for financial aid.
30% of students avail gift aid which provides an average of $23,830 per year.
In terms of grants, around 30% of the students receive federal benefits up to $5,482. Meanwhile, the average institutional grant aid per year stands at around $18,587.
29% receive state aid which stands at $4,849 per year.

Despite all the benefits offered, at the time of graduation, over a duration of 10 months, the typical monthly loan payment stands in the range of $163 to $280. Meanwhile, the median year earnings after ten years stand at around $47,800 per year.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$29,709

$30,001 - $48,000

$31,829

$48,001 - $75,000

$27,194

$75,001 - $110,000

$24,341

Over $110,000

$19,974

Saint Mary’s University also offers its aid based on the financial needs of the student. With that said, we have also provided some data on what each student may expect their average aid to be depending on the income bracket that they fall under.

Students whose family income is below $30,000 or fall between $30,000 and $48,000 may avail an average aid amount of $29,709 and $31,829, respectively. The median aid is considered to fall to those who earn between $48,001 and $75,000, which is a total average amount of $27,194. Families with a relatively higher-income bracket may not avail as much, comparatively. Those that earn up to $100,000 will receive an average of about $24,341 while those who earn more than that will receive a lower amount of $19,974.

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