From 2012 to 2014, the Governor and Legislature invested $276 million in higher education, continuing the DFL trend of reversing a decade of deep cuts and making higher education more affordable. This year, the Governor is proposing a $288 million investment in Minnesota’s higher education systems.
The Governor’s budget proposal would freeze tuition for an estimated 300,000 students and their families. Under the Governor’s proposal, U of M students would save up to $730 a year – reducing their total cost by $2,500 over four years. And a four-year MnSCU student would save up to $205 a year – reducing their total loan burden cost by roughly $2,050 over four years.
Additionally, the Governor’s budget proposal would make a significant investment in the State Grant Program – allowing an additional 7,500 students to receive grants, and increasing the amount of financial assistance for 93,000 students statewide. Eligible students would receive an average State Grant increase of $352, with some getting up to $1,800 more.
An additional $30 million is proposed for investment in the U of M Medical School to return the School to national prominence, and train the next generation of world-class medical professionals in Minnesota. The proposal would allow the University to hire 50 more medical researchers over the next eight years, address Minnesota’s looming shortage of doctors statewide, secure new grants, and support medical innovation and job creation.
The Governor’s budget would also invest $800,000 in scholarships to help an additional 250 American Indian students pursue a higher education.
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