Located in the Twin Cities of Minneapolis and Saint Paul, the University of Minnesota is a public research university that has been educating students for more than 150 years. UMN’s schools of management, law, and education rank highly. The university’s faculty members have invented things like the pacemaker, cancer therapies, and biodegradable plastics.
University of Minnesota tuition for state residents was $15,859 in 2022-23, and $35,099 for out-of-state students. This is more than the national average of $10,940 for in-state tuition at public universities, and $28,240 for out-of-state students.
Costs for 2022-2023
Tuition & Fees
Books & Supplies
Room & Board
Total Cost of Attendance
At UMN, 82% of students receive one or more forms of financial aid, including scholarships, loans, and grants.
Generally, financial aid is monetary assistance awarded to students based on personal need and merit. Students that qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.
The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, and nonprofits. The different types include:
• Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, and financial need.
• Grants: Generally based on financial need, these can come from federal, state, private, and non-profit organizations.
• Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.
• Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.
Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state and federal and school deadlines may differ.
You can find other financial aid opportunities on databases such as:
While 37% of University of Minnesota students take out federal student loans, 10% take out private loans averaging $14,830.
Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or state-affiliated organizations. While Federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations so their qualifications and interest rates can vary widely.
What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.
Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for as it generally may have better rates and terms.
If you’ve missed the FAFSA deadline or you’re struggling to pay for school throughout the year, private loans can potentially help you make your payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.
For in-state students, the combination of UMN tuition and fees plus room and board costs was $27,753 in 2022-23. For out-of-state students, it was $46,993.
Graduate Tuition and Fees
Costs for 2022-23
Total Cost of Attendance
University of Minnesota tuition for graduate school, including fees, was $20,315 for in-state students, and $30,425 for out-of-state students.
There are many options for graduate loans that can help with these costs.
Cost per Credit Hour
For UNM students who attend part-time, the cost per credit hour for residents is $538.70. The cost is $1,278.75 for non-residents.
Campus Housing Expenses
Costs for 2022-23
Books & Supplies
Room & Board
*Based on one-bedroom pricing. Average rate for available apartments on University of Minnesota’s off-campus housing website in 2023.
There are a dozen diverse residence halls and student apartments on campus for students to choose from. You can also opt for a Living Learning community, where you live with students who have the same interests. Freshmen aren’t required to live on campus, but 80% of them do.
For those who want to live off-campus, there are many apartments nearby. You can explore UNM’s off-campus housing options .
University Of Minnesota Acceptance Rate
Number of Applications
The University of Minnesota’s acceptance rate is 73%. In Fall 2021, 26,210 students were accepted to the university.
Here are the required and recommended materials if you’re considering applying to UMN.
• Self-reported academic record
• SAT or ACT scores
The deadline for Early Action is November 1, with a decision given by January 31. The deadline for Early Action II is December 1, with a decision given by February 15. The Regular deadline is January 1, with a decision given by March 31.
SAT and ACT Scores
Though test scores currently aren’t required with your application, here’s a look at the average standardized test scores at UMN.
SAT Evidence-Based Reading/Writing
Popular Majors at the University of Minnesota
From Accounting to Youth Studies, UNM has almost every major you can think of. Here are the most popular undergrad programs.
1. Computer Science
Computer Science is the top major at UMN. Students learn and develop programming languages and operating systems, design computer software and hardware, apply computational techniques to other sciences, and explore artificial intelligence and robotics.
Undergraduate degrees in 2020-21: 520
UNM offers both a Bachelor of Arts and a Bachelor of Science in Psychology. Students take courses like Biological and Quantitative Psychology, Neuroscience, Cognitive Science, Computer Science, Biology, Chemistry, and Mathematics.
Undergraduate degrees in 2020-21: 495
Courses for biology students include Nature of Life; Foundations of Biology for Biological Sciences Majors; Ecosystem Ecology; Sex, Evolution, and Behavior: Examining Human Evolutionary Biology; and Fungi – A Kingdom of Their Own.
Undergraduate degrees in 2020-21: 336
After getting a foundation in courses like Business Statistics, Finance Fundamentals, Business Analytics, and Options & Derivatives, Finance majors can go on to work as financial analysts, financial consultants, commercial bankers, financial planners, and more.
Undergraduate degrees in 2020-21: 273
5. Mechanical Engineering
While all Mechanical Engineering students take coursework in Mathematics, Physics, Chemistry, Engineering Science, and Applied Engineering, they have the option to further their studies in fields like System Design and Control, Manufacturing Engineering, Thermodynamics and Heat Transfer, Power and Propulsion, and more.
Undergraduate degrees in 2020-21: 202
6. Elementary Education Foundations
This program prepares students to become elementary school teachers. It includes Elementary Teaching, Reading Foundations, and Special Education Foundations, as well as 1,200 classroom hours.
Undergraduate degrees in 2020-21: 200
After starting with a base in business and economics, Marketing majors dive into topics like Marketing Foundations, Marketing Research, Business Communication, Buyer Behavior, and Marketing Analysis.
Undergraduate degrees in 2020-21:183
UMN offers both a BS and a BA in Mathematics. Students can select a specialization, including Actuarial Mathematics, Mathematical Biology (Genomics or Physiology), Computer Applications, or Mathematics Education.
Undergraduate degrees in 2020-21: 179
9. Political Science
Political Science majors can personalize their studies to suit their interests. They can focus on political theory, international relations, and comparative government and policy, and more.a They also have the opportunity to participate in internships and political/social justice student groups.
Undergraduate degrees in 2020-21: 169
UMN has one of the top 15 Kinesiology programs in the country, according to the National Academy of Kinesiology. Students get the opportunity to work in some of the 14 labs and centers on campus.
Undergraduate degrees in 2020-21: 160
Here are the graduation rates at the University of Minnesota.
• 4 years: 72%
• 6 years: 84%
• 8 years: 84%
Post-Graduation Median Earnings
After completing their studies at UMN, graduates can expect to earn an average of $61,201, which is significantly higher than the national average of $47,922.
The University of Minnesota provides a quality education, and the school’s acceptance rate is high. While the tuition can be pricey, the majority of students receive financial aid to help pay for their education. And UMN graduates typically go on to earn a good salary in their careers.
SoFi private student loans offer competitive interest rates for qualifying borrowers, flexible repayment plans, and no origination fees.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi.com/eligibility-criteria for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.
Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status and and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, years of professional experience, income, and a variety of other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp. or an affiliate, NMLS # 1121636. (www.nmlsconsumeraccess.org)
✝︎ To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.