Tuition at any University of Minnesota campus will be free starting this fall for students from families making less than $50,000 a year.
The Board of Regents last week established the benchmark as part of a new strategic plan for the university.
The income figure pertains to a family’s adjusted gross income, which excludes pretax retirement contributions and health insurance premiums, among other expenses.
U students from families making less than $50,000 already pay little tuition, if any, thanks to state and federal grants and university scholarships. Some even get aid packages that exceed the sticker price.
The tuition-free pledge does not cover other costs of attending college. The U says Twin Cities undergraduates living in a dorm or apartment can expect to pay $13,800 per year for room and board, books, transportation, personal items and loan fees.
The U’s strategic plan, called MPACT, also includes a goal of reducing the average debt at graduation to $25,000 from $26,876 among graduates who borrow for college.
