#9 Best Public Universities in Minnesota

Southwest Minnesota State University Tuition & Cost

Marshall, Minnesota

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How much does it cost to attend?

Sticker Price
Costs for Southwest Minnesota State University
Fee Cost
Books and Supplies$1,200
Other Fees$1,221
Room and Board $8,642
Other Expenses Budget$2,930

Annual Prices

The annual list price to attend Southwest Minnesota State University on a full time basis for 2020/2021 is $21,830 for all students regardless of their residency. This fee is comprised of $7,837 for tuition, $8,642 room and board, $1,200 for books and supplies and $1,221 for other fees. Out of state tuition for Southwest Minnesota State University is $7,837, the same as Minnesota residents.

All price data is sourced from the 2020/2021 U.S. Department of Education National Center for Education Statistics survey.

Net Price

Net price is indicative of what it actually costs to attend Southwest Minnesota State University when typical grants and scholarships are considered. The net price varies by family income and financial need.

Average Net Price 2019/2020
Net Price by Income Southwest Minnesota State University
Family Income Net Price Paid
$0 to $30,000$10,578
$30,001 to $48,000$10,945
$48,001 to $75,000$12,156
$75,001 to $110,000$16,682

The average reported annual net price for Southwest Minnesota State University for students receiving grants or scholarship aid was $14,340 in 2019/2020. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

Costs for Similar Colleges

Financial Aid

99% of full-time undergrad Southwest Minnesota State University received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $6,049 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 64% of students received Federal Student Loans averaging $5,252 and 20% of undergrads took out private student loans averaging $8,360.

Finanical Aid Southwest Minnesota State University
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $6,049 99%
Institutional Grants and Scholarships $2,882 84%
Pell Grants $4,318 41%
Other Federal Grants $642 87%
State and Local Grants $3,106 41%
Federal Student Loans $5,252 64%
Other Student Loans $8,360 20%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to Southwest Minnesota State University, we've modeled a ten year student loan with an original principal value of $47,392. The loan balance of $47,392 is a four year multiple of the $11,848 average net price. This is a estimate of what you could owe upon graduation if you were to qualify for average financial aid and what a degree really may cost. Should you not qualify for financial aid, you may owe significantly more when you graduate. Based on these assumptions, a monthly repayment of $452 could be required to satisfy your student loan.

Please note that financial aid is not guaranteed and is only available for qualifying students. Federal Student Loans are not grants and must be repaid with interest. The current Stafford loan interest rate is 2.75%.

Example Loan $47,392
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $452.17
Total Interest Paid $6,868.63
Sum of All Loan Payments $54,260.63

Projected 4 Year Degree Price

4 Year Sticker Price
Year All Residents
1 $21,830
2 $22,208
3 $22,593
4 $22,985

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at Southwest Minnesota State University to be $87,320 - assuming graduation in normal time. The estimation assumes a 1.7% annual increase over the next 4 years which has been the recent trend for this school.

Credit Hour Cost and Price per Class

Credit Hour and Class Costs at Southwest Minnesota State University
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $300 $900 $1,200

Estimated cost for a class at Southwest Minnesota State University based on published credit hour prices. Note that not all schools allow single class enrollment. These prices should be used for comparison purposes as to how much it may cost to take a class at Southwest Minnesota State University versus other colleges.

Tuition Payment Plans Available

Southwest Minnesota State University Payment Plans
Tuition Payment Plan Yes
Prepaid Tuition Plan No
Alternative Tuition Plan Yes
Guaranteed Tuition Plan No

Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=175078 IPEDS survey data for Southwest Minnesota State University.