University of Minnesota - Duluth (UMN) Financial Aid and Scholarships
Students Receiving Aid
62%
Total Aid Amount
$45.365M
Financial Aid Official Website
https://onestop.d.umn.edu/finances/receiving-financial-aid
Notably, 90% of the students at University of Minnesota-Duluth get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $32,693,236. For additional information about financial assistance schemes, one can head over to UMD’s financial aid page at https://onestop.d.umn.edu/finances/receiving-financial-aid. The total percentage of candidates applying to University of Minnesota-Duluth who receive the Federal Grant is 25%. In comparison, 75% of the students are awarded the Student Grant, 73% get the Institution Grant, and 24% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,989, the State Grant receivers and Institution Grant beneficiaries get $5,280 and $3,013, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,642. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 63% of the applicants to University of Minnesota-Duluth opt for student loans.
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