Minnesota has 39 private and 12 public 4-year colleges that enroll 24,836 first-year students yearly. The average tuition of public colleges is $23,573 for in-state students and $28,443 for out-of-state and international students.

Private colleges in Minnesota charge around $31,081 per year in tuition regardless of residency.

In the 2021-2022 academic year, Minnesota provided $39.1 million in financial aid to 7,903 students who enrolled in 4-year colleges for the first time as undergraduates. In addition, the colleges themselves awarded $273.4 million in grants and scholarships to 17,551 students.

Minnesota receives 1.5% of the total pell grant the federal government allocates. In the 2021-2022 academic year, 6,452 4-year college first-year undergraduates were awarded a total amount of $31 million in pell grant ($4,686 per student on average), and 12,770 students received a total amount of $67.6 million in the form of student loans from the federal government ($6,137 per student on average).