Costs & Aid
2017 grads had an average of $155,000 in total student loans and their median salary is $121,750.
All US citizens and permanent residents may qualify for federally sponsored financial aid that covers the cost of attendence.
Fees and Other Expenses
The University prepares cost of attendance (COA) figures in order to calculate financial aid eligibility for students. If you do not receive financial aid, you may use the following figures to estimate enrollment costs. Your specific tuition and fees charges will appear in your University student account in the My Finances tab of MyU a few weeks before the start of your classes (enrollment period).
Actual costs for books & supplies, room & board, transportation, and personal expenses may differ depending on your personal spending choices.
Additional fees may be assessed based on other factors such as online & distance learning courses, international student services fees, graduate student fees, etc. More information on current University-wide tuition and fees is also available on the OneStop Student Services websites: Duluth and Twin Cities.
Financial Aid (FAFSA)
Pharmacy students finance their education from a combination of sources, including personal or family funds, grants and scholarships, loans, and employment.
A student's total financial aid package will match the total estimated Cost of Attendance as shown on the Duluth and Twin Cities pages. This includes tuition & fees, books & supplies, room & board, transportation, and personal expenses. After January 1, students can access the Free Application for Federal Student Aid (FAFSA) to apply for federal financial aid. Students may apply for financial aid before they are admitted to the College.
Federal, state, and institutional loans and grants are administered by our financial aid office. For more information about types of financial aid available and the application process, contact the financial aid office and ask to speak with a health professions financial aid counselor:
Office of Financial Aid and Registrar
21 Solon Campus Center
1049 University Drive
Duluth, MN 55812-3011
218-726-8000 or 800-232-1339
Office of Student Finance - Health Sciences
University of Minnesota
308 Harvard St SE
Minneapolis, MN 55455
Over $300,000 in scholarships to be awarded to incoming students!
As an applicant, you are automatically considered for many of the college's scholarships for incoming students, which total over $300,000. Many scholarships are awarded on a recurring basis through the four years of the PharmD program. Examples* of scholarships are:
- Dean's Nonresident Scholarships to cover the difference between resident and non-resident tuition
- Scholarships for applicants with plans to practice in rural areas or with medically underserved populations
- Scholarships for applicants with the potential to become leaders in the profession of pharmacy
November 1 is the priority deadline for scholarship consideration. Applicants who meet the priority deadline will all be given equal consideration for scholarships. After December 1, any remaining scholarships will be awarded on a rolling, first-come, first-served basis. To be considered for scholarships based on financial need, you must have a Free Application for Federal Student Aid (FAFSA) on file.
An additional $120,000 in one-time scholarships are awarded to current students each summer. Admitted students will be invited to apply for these scholarships, ranging from $500 to $3,000 each, in late April.
Other resources to find scholarships:
*Scholarships awarded each year are subject to change.
Many pharmacists are eligible for Public Service Loan Forgiveness. If you plan to work for a federal, state, or local government agency, entity, or organization, or a not-for-profit organization designated as tax-exempt by the IRS (such as a public hospital or clinic), you could be forgiven thousands of dollars in loans after working for ten years.
- Direct Loans (not Federal Family Education Loan or the Federal Perkins Loan)
- After graduation repay your loans monthly, on-time, scheduled, and in full on an income-driven repayment plan or 10-Year Standard Repayment Plan
- Work at least 30 hours per week for a total of ten years (does not need to be consecutive or at the same employer)
To maximize the benefit of this federal loan forgiveness program, it is recommend to consult with the university financial aid officer and a financial planner.
Pharmacists who serve in a designated rural area in Minnesota for a minimum of three years after graduation are eligible for student loan forgiveness through the Minnesota Department of Health. Those eligible can receive approximately $16,000 per year of service, up to $64,000 maximum over four years.
Residency and Reciprocity
Since the University is a state institution, Minnesota residents pay lower tuition than nonresidents. Please review the downloadable Residency, Reciprocity and Tuition Exemption brochure for more information.
To qualify for resident status, students must reside in Minnesota for at least one calendar year before the first day of class attendance. Minnesota residency status is granted to students who:
- Are permanently residing in Minnesota; and
- Have been continuously present in the state of Minnesota for at least one calendar year prior to the first day of class attendance at the University. During that one-year period, the student must not have attended any other Minnesota post-secondary educational institutions.
The University has a reciprocity agreement with South Dakota and Wisconsin that allows residents of those states to pay Minnesota resident tuition rates. This is not automatic; South Dakota and Wisconsin residents must apply for reciprocity through the South Dakota Board of Regents or State of Wisconsin Higher Education Aids Board. Please note that the reciprocity agreement with North Dakota applies only to undergraduate and certain graduate programs; pharmacy students from North Dakota do not qualify for reciprocity.