| 1998 Fiscal Review Appropriations - Higher Education |
The Legislature appropriated $73 million to higher education: $36 million to the University of Minnesota, $36 million to the Minnesota State Colleges and Universities (MnSCU), and $1 million for student financial aid.
The $36 million to the University of Minnesota was for the following purposes:
The $36 million to MnSCU was for the following purposes:
By reinvesting an estimated $13.5 million in savings from changes in federal student financial aid and providing $1 million in new money for the work-study program, the Legislature continued its commitment to help families pay for their children's college education.
Under Minnesota's student financial aid policy, students are currently responsible for 50 percent of the recognized price of attending college. The Legislature reduced the proportion of the cost the student must pay from 50 percent to 47 percent. This will decrease a student's share of the recognized price of attending college by approximately $212 at MnSCU two-year institutions, $234 at MnSCU four-year institutions, $286 at the University of Minnesota, $327 at private two-year institutions, and $388 at private four-year institutions. Typical dependent undergraduate students with parental adjusted gross incomes under $20,000 will see significant increases in their combined state grant and federal Pell grant awards: $610 at MnSCU two-year institutions, $659 at MnSCU four-year institutions, $755 at the University of Minnesota, $945 at private four-year colleges, and $958 at private two-year colleges.
The Legislature included $1 million for the work-study program to further assist students in paying for their education. This money will provide jobs for about an additional 1,000 students.