Financial Aid Soars At MnSCU

ST. PAUL, Minn. (AP) — The amount of financial aid flowing to students in the Minnesota State Colleges and Universities system shot up 25 percent from 2009 to 2010 to $1.2 billion.

The system’s auditors are scheduled to present an audit of major federal financial assistance programs to the MnSCU trustees during their regular meeting Wednesday.

The auditors found four minor problems, such as a $1,050 calculating mistake, but they also documented the surge in federal funds flowing to the system as its enrollment rises.

MnSCU received over $361 million in federal grants and students borrowed nearly $651 million of federal loans in fiscal year 2010, up 16 percent from 2009.

Among the fastest growing programs were Pell Grants for low-income undergraduates, which increased $102 million, or 67 percent, since 2009 to $255 million.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


One Comment

  1. Jeff says:

    They need to raise the cap to $60K too. $52K is too low.

  2. GOPSUX says:

    If the GOP filth has their way, only rich, inbreeds will be able to get an education. Only those worthy by birth or inheritance could go.

  3. Fun Guy says:

    What the heck, free healthcare for everyone, free education, free housing. Pretty soon it will be free beer for evryone.
    Who knows, maybe someday none of us will have to work at all, we’ll all sit around and listen to Obama speeches and feel like victims all day

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