The University of Minnesota is also featured in our ranking Top 25 Most Affordable Online Bachelor’s in Accounting.
The University of Minnesota is the largest public university in the state and the state’s largest school system. Officially called the University of Minnesota, Twin Cities to separate it from other schools in the system, it also goes by the names of Minnesota and UNM. Established in 1851, UNM is a Public Ivy League University. This means that it offers the same opportunities and level of education that Ivy League schools do but at a much lower price. The university is home to 19 schools and colleges that offer more than 100 degree options for students across all major levels. Its campus is also home to six institutes and centers that allow students to study two or more subjects at the same time.
ARWU, Washington Monthly and U.S. News & World Report all rank Minnesota within the top 100 of all colleges in the United States. UNM also appeared on the ARWU lists of the best college math programs and the best colleges in the world. The Center for Measuring University Performance included the university on its list of the best research schools in the nation. Many of the UNM programs rank among the best in the nation too, including its programs in economics, public health and statistics.
Bachelor of Science in Accounting
One of the only fully online Bachelor of Science in Accounting degree programs in Minnesota is the one offered by the University of Minnesota. The university actually offers this program through UNM Online and its Crookston campus. Designed for those who want to take the Certified Public Accountant exam, this program takes four years to finish. Students will spend just one additional year taking classes at the graduate level before they can sit for that exam and for other licensing exams. The program looks at different areas of accounting, including taxation and government accounting.
As this is a BS program, it requires that students complete a total of 120 credits of work. More than 40 of those credits are the general education courses that students in any undergrad program take, but accounting majors will also take 63 credits of accounting classes and some electives from business, accounting and related disciplines. The program features courses such as Principles of Accounting, Legal Environment in Business, Principles of Marketing, Accounting Systems and Writing in Your Profession. The University of Minnesota also requires that all online students take a class called Orientation to Online Learning that introduces them to the online system.
University of Minnesota Accreditation Details
Many students choose online programs because they tried traditional programs and found that they didn’t have enough time for those classes. Students enrolling in Minnesota’s online accounting program can transfer the credits they earned at another school into this program because the university has regional accreditation. That accreditation comes from the North Central Association of Colleges and Schools (NCACS). As the United States Department of Education recognizes the NCACS, this type of accreditation also qualifies students for federal financial aid. The university also has accreditation for its accounting program and all related business programs from the Association to Advance Collegiate Schools of Business (AACSB).
University of Minnesota Application Requirements
UNM has an application tracker that helps students keep track of their applications. New students will create an account with the university website, click on a link in an email sent to them to verify their account and then use that account to work on their applications. The tracker lets them know when the university needs any additional information from them and when the university makes a final decision on the application. UNM accepts less than half of the students who submit applications every year.
The university has an application deadline of November 1, which lets students know by January 31 if they can start classes in the fall. Students have until January 1 to submit a completed application, but those who submit their applications later will not receive a response until the end of March. UNM encourages students denied acceptance to attend another college or university, get high grades in lower level classes and later apply again as transfer students. It has a separate application for transfer students that allows them to carry over credits earned on another campus.
When a student submits an application, he or she will need to pay a $55 nonrefundable application fee. The university has waivers available for those who cannot afford the fee, but students will need to apply for a waiver before submitting an application. UNM asks for an SAT or ACT score, and students can have those scores automatically sent to the university when they take either test. Students need to provide the university with their high school transcripts too. GED holders should provide the university with an official test score in lieu of a transcript. Home school students can submit home school programs instead of a transcript.
Tuition and Financial Aid
Though the University of Minnesota has both a resident and a nonresident rate, it also has a program in place for students who live in neighboring states. Students from Wisconsin, North Dakota and South Dakota pay the same rate that Minnesota residents do, which is $14,836 per year. Residents of Manitoba qualify for this same tuition rate. Students of all other states and territories pay $30,514 per year. This rate includes the cost of taking at least 12 credits over the course of two semesters and all university fees. It does not include the cost of room and board, which is around $10,000 a year. UNM allows students to take as many credits as they want without paying any additional fees. Students can take 13 credits or more and pay the same rate.
Prospective UNM students should use the FAFSA when applying for financial aid. Students can now complete this form in October, which is almost a full year before the fall semester starts. The university participates in the federal work-study program. This program allows students to work an on-campus job during the school year. The FAFSA will also determine if students qualify for state or federal government aid, including loans and grants. Undergrads can apply to one of the dozens of scholarships that the University of Minnesota offers, which the university awards to students based on factors like class ranking, GPA and standardized test scores.