St. Paul, MN (NNCNOW.com) - Governor Mark Dayton has signed a bill into law offering $250 million for higher education, with $46 million going to direct financial aid for students.
The financial aid is expected to help 100,000 students in the state.
The budget adjusts the State Grant Program to ensure middle class students have the help they need to afford higher education. This will provide financial assistance to an additional 9,000 Minnesota students.
On average, this budget provides each State Grant Program recipient an additional $181 per year.
The budget also freezes tuition for college students at all MNSCU and University of Minnesota campuses for the 2014-2015 school year.
The budget invests $15 million in tuition reciprocity programs, ensuring that Minnesota students have a wider range of affordable higher education options.
A portion of the funding allocated for the U of M and MnSCU schools will be withheld until the schools meet certain performance standards.