Southwest Minnesota State University

In 2016, tuition for full-time Southwest Minnesota State University students was $8,840 a year for in-state students and $8,840 a year for out-of-state students.

Usually, college tuition goes up about 3% every year.

Remember, the displayed price of tuition does not always tell the full story. Many students pay a lot less than the sticker price after grants, scholarships, and tuition discounts are applied. Additionally, student loans can make theprice of collegefeel more doable until you're done with college.

First-year students that attend Southwest Minnesota State University full-time are awarded $10,315 a year in financial aid, on average.

Graduates in the class of 2023 had an average of $29,182 in student loans per borrower.

In-state vs. Out-of-state Tuition at Southwest Minnesota State University

Southwest Minnesota State University is a public, state institution, which means it offers a reduced tuition rate of $8,840 for in-state students who attend full-time.

Public schools receive funds from the state to help them cover costs. Public insitutions often offer reduced tuition for students who are residents of that state.

Choosing a college where you qualify for in-state status can cut the cost of college tuition. Don't forget to verify your state's rules for as an in-state resident. Every state has its own rules about what makes someone eligible for in-state tuition. Most states require students to have resided in the state for a certain period of time before qualifying. There may be other criteria as well, depending on the state you and your parents currently reside in.

Explore other Minnesota colleges

Do International Students Pay More to Go to Southwest Minnesota State University?

Southwest Minnesota State University has the same tuition for international students as for those from out of state.

International students usually do not qualify for for federal financial aid, but should research private or Southwest Minnesota State University-specific grants, scholarships, and other funding opportunities.

International students without financial need may be eligible for merit-based institutional scholarships and athletic awards.

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Southwest Minnesota State University Room, Board, Fees, and More

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Tuition is not the only cost of attending college; there are other costs associated with college, like room and board, facility fees, and books and supplies. Let's take a look at what impacts these costs, and what to expect at Southwest Minnesota State University.

Room and Board Costs at Southwest Minnesota State University

Room and board at Southwest Minnesota State University is $11,174 a year. This includes the cost of living in dorms or other on-campus housing, and a dining plan that allows you to eat in the Southwest Minnesota State University's on-campus cafeterias and dining facilities. Students who live off campus but would like to be able to eat in the campus dining can opt-in for a meal plan. The cost of a mean plan, or board-only, is $5,100.

Meal-plan costs may vary depending on how many meals are included in the plan you choose.

Cost of Books at Southwest Minnesota State University

First-year students are sometimes surprised by how much books and supplies cost–and not in a good way. The actual cost of books and supplies depends on the courses you take and what kinds of books and materials they require. To save money, many students choose to use books from the library or buy books from students who have already taken the course.

Annual Fees

The majority of colleges also have fees to offsets cost associated with maintaining facilties, like the computer labs and libraries, athletic facilities, and more.

Keep in mind, there could also be optional fees associated with participating in special activities, like Greek Life, or participating in sports or other extracurriculars. Many schools have resources for students who may struggle to participate because of cost can get help covering these fees.

The Cost of Transportation at Southwest Minnesota State University

The cost of transportation in college depends on a few key factors. Will you drive, fly, or take public transportation to school? Is on-campus parking free, or will you need to budget for parking? Is the campus small enough that you can easily walk from class-to-class?? Do you own a car, or are you planning to use public transportation? All of these questions can drastically impact your transportation budget. At Southwest Minnesota State University, freshman are allowed to park on campus.

A school's location can also have a big effect on the amount you'll have to spend just to get around. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the other hand transportation in a city is often pricey, but there may be more trains, busses and affordable flights to actually get to school. The Southwest Minnesota State University campus is in a rural area in Minnesota.

Other Costs

When budgeting for college, don’t forget to take into account personal expenses, like movies, takeouts, furniture or appliances for your dorm or housing, and essentials like laundry detergent, toothpaste and toilet paper.

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Financial Breakdown for Southwest Minnesota State University

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Now, let’s do a rundown of all of the costs associated with college, to get a better estimate of what is really costs to go to Southwest Minnesota State University.

How Much Does Southwest Minnesota State University Cost?

What will the cost of attending Southwest Minnesota State University be? Here is a breakdown of tuition and expenses.

2023 Total Tuition and Expenses
In-state Tuition	$8,840
Out-of-State Tuition	$8,840
Room and Board	$11,174
Board Only	$2,045
Other expenses	$3,542

The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.

Tuition and fees may vary depending on program, course level, location, and more.

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Southwest Minnesota State University Financial Aid

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In 2023, 863 of the 6,846 undergrads enrolled received financial aid.

The average financial aid package for a full-time, first-year student is around $10,315 a year. Around 1% of Southwest Minnesota State University undergrads take out student loans to cover any remaining costs. Southwest Minnesota State University graduates who have student loans graduate with an average of $29,182 of student loan debt.

The average debt for each loan type varies.

Average Debt By Loan Type
Federal Loans	$22,323
State Loans	$18,594
Private Loans	$19,115

Most Common Loans for Southwest Minnesota State University Students
Federal Loans	1%

Most students take out institutional or government loans, because they tend to have lower interest rates and more flexible repayment options than private loans. Loans from the federal government can be subsidized or unsubsidized. Subsidized loans do not accrue interest during school, while unsubsidized loans begin accruing interest at the time the loan is issued. If students do no qualify for enough federal loans to cover the cost of tuition, some take out private loans. Parents can also take out ParentPLUS loans, which are government loans for parents who are helping their children pay for college.

The Free Application for Federal Student Aid (FAFSA) helps colleges determine how much financial need students and their familes have, so they can offer a financial aid package that meets, or come close to meeting, their need. For more information on Southwest Minnesota State University financial aid, keep reading, or visit their financial aid website.

Scholarships at Southwest Minnesota State University

Some students may receive grants and scholarships to help pay for college. Unlike loans, scholarships and grants do not have to be paid back.

In 2023, Southwest Minnesota State University awarded 656 need-based scholarships to students, giving away total of $5.4 million to help students with financial need cover the cost of school. An additional $3.76 million in merit-based scholarship money was awarded to students without demonstrated financial need.

Net Cost of Southwest Minnesota State University

The net price of college is the actual cost of attending a school for one year. Net cost is calculated by subtracting any scholarships, grants or other aid that does not need to be paid back from the total cost. Student loans are not part of the calculation, because they need to be repaid.

Now that we have a sense of the total estimated costs for Southwest Minnesota State University students, we can subtract the average financial aid package to find the estimated net cost. Net cost can vary depending on a students’ need and the financial aid award received.

When considering whether a school fits your budget, it is important to consider the estimated net cost, not just the sticker price of tuition. Often, schools with the highest tuition also offer the most generous aid packages, so estimate your net cost before eliminating a school because it does fit your budget.

The average amount of financial aid received by a full-time first year student with demonstrated need at Southwest Minnesota State University was $10,315 in 2023. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Southwest Minnesota State University seem more manageable.

Estimated Net Cost for Full-Time Students
In-State, On-Campus	$6,391
Net In-state, Off-campus	$4,035
Out-of-State, On-Campus	$16,706

What will attending Southwest Minnesota State University really cost you? The answer depends on several factors.

As of 2011, colleges are required to have a net price calculator on their website to help prospective students and their families make more informed decisions about the actual cost of attending that school, based on their financial situation. You can find the Southwest Minnesota State University's net cost calculator on their website.

Southwest Minnesota State University Tuition Payment Plans

Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.

Southwest Minnesota State University offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.

Southwest Minnesota State University Tuition Waivers

Schools sometimes waiver tuition for certain groups, to reduce the total cost of attendance. Some schools offer tuition waivers for employees and their family members, underrepresented students, or military students. Even with a tuition waiver, other expenses and fees are the responsibility of the student.

Check the financial aid website for more information on payment plans and tuition waivers.

Southwest Minnesota State University's Endowment

An endowment is the total value of a school's investments, donations, and assets. Endowment is not necessarily an indicator of the quality of a school, but it can give you a sense of how much money a college can afford to invest in expanding programs, improving facilities, and supporting students.

For more information about Southwest Minnesota State University's endowment, check with the school directly. For each full-time student, Southwest Minnesota State University spends about $4,176 a year.

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Learn More About Southwest Minnesota State University

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Click below to find out more about the admissions requirements and deadlines, student life, academics, majors and more.

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