This does not even include department fees. It is Incredible how the U is pricing itself out! Not feeling the love.
But are they? I agree $36,000 is ridiculous but is it different from schools like Wisconsin or Illinois. I live in Illinois and in my case Illinois obviously is cheaper. But not really for OOS. Same goes for Wisconsin. Tuition maybe a little cheaper but room and board seem to be less at Minnesota. Kind like taking less money from one hand but more from the other hand.
I remember looking at this school about a year and a half ago and the published OOS was around $30K. Two years ago, the rate was about $27K and 3 years ago, the rate was about $24K. By the time, an application gets submitted, a student might get priced out by the time they get admitted. You are looking at about 10% to 15% of tuition increases from year to year. It is just not sustainable. I am sure they are not getting as many OOS students as they used to.
It’s still about in the middle of the Big 10 for OOS tuition rates, so really they’re just catching up. Would I pay that to go there? No way. But, there are people that feel it’s worth it.
Keep in mind that they do give out a lot of National Scholarships up to 15K/year to offset the cost though.
The 15K we got was the biggest factor on deciding on U of M. It still puts it a touch higher than Illinois. Although the Honors College benefits in my opinion makes the value, not necessarily cost, better than Illinois.
Did merit aid for OOS come with the acceptance letter? TIA
My son didn’t get it with his acceptance but we were out there this weekend for accepted student day. I asked when they send out the financial packages and said they just started and everyone should receive by the end of March.
We are getting something coming from the Office of Student Finance today. We have a letter on the portal stating how much we can pay. ($50,000 LOL). They offered $5,500 in loans. My D20 did get the $15,000 national scholarship though.
Just checked the portal and found only the $5500 loan and a small 2700 work study for our son, who is OOS. I also noticed the the OOS tuition was raised a lot over 4 years and to their credit they say it will continue to go up at least 5%, I think in a 4 year period it went form 27K to 32K. SO unless merit aid shows up I do not see UMINN business school a fit for my son. Rutgers is almost 50% less when I factor in the cost of airfare several times a year. Was hoping for some merit but it seems it is not in the cards. Our EFC was about 18K so I can see how they think 50K is about right for us to pay out of pocket. Yes I know the EFC is never a given but damm can it at least be double, is that asking to much.
@NJdad07090 Did you not get some sort of Merit? I was able to get a small scholarship but not enough to be able to make UMN a financial option. I feel like the scholarship basically will be a wash to the 10% tuition increase. There is also the Carlson $1000 per semester fee. As much as I love the opportunity at Carlson, it is very unlikely I will be attending do the same financial reasons. I will need another $10K in merit in order to make it work. Glad to hear that you have a very nice option at Rutgers
@collegeeisago According to Uminn merit will come out by the end of the month so as of now no merit, no FA. I do not expect Uminn to get to Rutgers money but I do not think it would triple the EFC either.
Update, Uminn sent out the FA packet and it contained a fed loan option for 5500 so there is no way I will pay full sticker to UMinn without even seeing it so my son will decline his spot in Carlson tomorrow AM, good luck to all.
We have not gotten any financial aid info yet!
@NYCDadof2 - That’s really strange. There’s nothing in the MyU portal?
Kudos to the new president, Joan Gabel, for proposing a tuition freeze for 2020-2021 on Tuesday. Of course, this would have to be approved by the tuition-increase-crazy board of regents. Given the current situation and that a few other major universities are already freezing tuition or considering it, there is hope. The cries about losing tens or hundreds of millions of dollars aren’t all that compelling when UMN is sitting on an ~3 billion dollar emergency fund. The rainy day is here…