You may have heard of state-supported free tuition programs like the North Star Promise in Minnesota. Although private colleges are not part of this program, Carleton has a long-standing commitment to affordability. We meet 100% of demonstrated financial need for every student for all four years. This means you may end up paying less at Carleton than you would at a state university, including those with programs like the North Star Promise.


Take a look at these basic financial aid facts to see how the North Star Promise would compare to your offer at Carleton:

  • The North Star Promise only guarantees to cover tuition. This means that housing and food are not covered. At the University of Minnesota Twin Cities, on-campus housing and food are $13,856 for the 2024-25 school year. Carleton’s financial aid factors in tuition, housing, food, and more.

  • The North Star Promise only supports students who meet the adjusted gross income (AGI) threshold of $80,000 or less. Students are disqualified from the North Star Promise even if their AGI is only one dollar above $80,000. Carleton does not have any income limitations for financial aid and will continue to meet all admitted students’ financial need.

  • For Minnesota students with an AGI less than $100,000 in 2023-24, the average grant at Carleton covered 100% of tuition. Take a look below to see the average grant for Minnesota students up to $250,000 AGI. As a reminder, grants are money you do not need to repay!
Family IncomeAverage GrantPercent of Tuition Covered by GrantAverage Total Aid*
$0–$100K$65,645100%$71,663
$100–$175K$52,00080%$59,419
$175–$250K$36,97257%$45,224

*Average Total Aid includes grants, student employment, and loans


Compare Costs

Carleton CollegeUniversity of Minnesota Twin Cities
Cost of attendance (2024-25)$88,606$34,576
Average need-based scholarship or grant$56,996$14,537
Average financial need met by aid100%77%
Students receiving need-based scholarships or grants59%42%

(Sources: Common Data Set Carleton & UMN)


See what the financial aid package looks like for the average Minnesota student accepted to both Carleton and the University of Minnesota:

Average net cost of Carleton and UMN Twin Cities for Minnesotans as a family of four with one student in college and an AGI of $75,000. Carleton College has a cost of attendance of $88,606, and this example student receives a $76,961 grant, $4,500 in loans, and a $3,120 student work package leaving the family to contribute $4,025. University of Minnesota has an in state cost of attendance of $34,576, and this example student receives a $17,734 grant, $5,500 in loans, and a $2,700 student work package leaving the family to contribute $8,642.
Average net cost of Carleton and UMN Twin Cities for Minnesotans as a family of four with one student in college and an AGI of $85,000. Carleton College has a cost of attendance of $88,606, and this example student receives a $75,799 grant, $4,500 in loans, and a $3,120 student work package leaving the family to contribute $5,187. University of Minnesota has an in state cost of attendance of $34,576, and this example student receives a $10,871 grant, $5,500 in loans, and a $2,700 student work package leaving the family to contribute $15,505.

(Sources: Carleton Net Price Calculator & UMN Net Price Calculator)


Frequently Asked Questions

Can Carleton guarantee my tuition will be covered?

While there is no guarantee at Carleton, we are one of about 75 institutions in the country that meets your full demonstrated financial need for all four years. Using the FAFSA and CSS Profile, we will cover the difference between your family contribution and the cost of attendance.

Why is Carleton’s comprehensive fee so much higher than public institutions?

We employ the best teachers and offer a 8:1 student to faculty ratio. Since ensuring you get a highly personalized education is a top priority, faculty and staff compensation is one of our biggest expenses. (U.S. News & World Report has ranked Carleton number one in undergraduate teaching for the past 14 years in a row.) Our second biggest expense is financial aid to provide access to the best students regardless of their family’s financial position. The rest of our budget goes to things like research, career and counseling services, and keeping our campus clean and safe.

How many Carleton students receive aid?

89% of current students receive some type of assistance, which can include grants, loans, student employment, and scholarships. 

Financial Aid Terms to Remember

Cost of attendance: Total cost to attend Carleton (tuition, housing, food, and activity fee), including personal costs like transportation, clothing, and books

Need-based aid: Funding based on financial need, rather than merit or skills

Grants: Funding based on financial need that you don’t need to pay back

Student Employment: A paid position of up to 10 hours per week during the academic year at Carleton