Some 70,000 students come seeking higher education in the Land of 10,000 Lakes. A major land grant university system, the University of Minnesota (U of M) offers undergraduate and graduate degrees in some 370 academic fields. It employs more than 4,000 faculty members across five campuses located around the state. The university's Twin Cities campus, with about 50,000 students, ranks among the largest in the country in terms of enrollment, while still boasting a 16-to-1 student/faculty ratio. U of M's other campuses are located in Crookston, Duluth, Morris, and Rochester. It also operates research and specialty training programs through extension offices throughout the state.
The university has an extensive medical program. Its doctoral residents have the ability to train at the University of Minnesota Medical Center, the Amplatz Children's Hospital, and other area health care facilities. The U of M also brings in business students attracted to the successful Twin Cities market, and boasts that some 10,000 businesses have been started up by its graduates over the years.
The university's Twin Cities campus, which actually consists of three locations (East Bank and West Bank centers in Minneapolis and one center in St. Paul), ranks among the top public research institutions in the US, spending over $600 million per year on studies funded by government and private sponsors. The other U of M campuses provide liberal arts (Morris), polytechnic (Crookston), and general university degree programs (Duluth and Rochester).
U of M reported annual revenues of some $3.1 billion in 2011, a 5% increase over 2010 figures primarily due to larger gains on market investments. Sources of revenue include tuition, research grants and contracts, state appropriations, charitable gifts, and other activities.
In recent years, the university has experienced marginal decreases in state and federal appropriations due to economic difficulties. The U of M has responded by working to reduce administrative costs and to bring in additional operational funds through external research grants and other sources. At the same time, the university works to upgrade its facilities to better serve the needs of its student.
Originally founded in 1851 as a prep school, the university became a land grant institution in 1867 after receiving federal funding related to the Morrill Act of 1862. The university expanded over the years, adding campuses in Duluth (1947), Morris (1960), Crookston (1966), and Rochester (2006). – less