Grants, Scholarships, Loans, and More
If you demonstrate financial need you may qualify for grants, which do not need to be repaid, or loans, which must be repaid after graduation. If you show academic achievement and artistic talent you may qualify for merit scholarships. Additional scholarships, work-study, and payment plans are also available.
Federal Pell Grants
Awarded based on financial need.
Federal Supplemental Educational Opportunity Grants
Awarded based on financial need. Priority is given to Federal Pell Grant recipients. Grants range from $100 to $2,000.
Minnesota State Grants
Awarded if you meet criteria set forth by the Minnesota Office of Higher Education Grant. Grant amounts are dependent upon annual appropriation levels established by the State of Minnesota.
MCAD Opportunity Grants and Renewable Opportunity Grants
Awarded by MCAD based on financial need. You must complete the FAFSA by March 15 to be considered.
MCAD Distance Grants
Awarded if you are an out-of-state student with an expected family contribution below $10,000. You must complete the FAFSA by March 15 to be considered.
Tuition Exchange Awards
Participating colleges and universities make funding available to dependents of faculty and staff.
Yellow Ribbon GI Education Enhancement Grants
This program is a provision of the Post-9/11 Veteran’s Educational Assistance Act of 2008, also known as Post-9/11 GI Bill.
Federal Perkins Loans
Available at a fixed 5% interest rate if you show exceptional financial need. Priority is given to Federal Pell Grant recipients. Loans range from $500 to $3,000. You must complete the FAFSA by March 15 to be considered.
Federal Direct Parent PLUS Loans
Federal Direct Stafford Loans
A long-term, low fixed-interest rate loan based on your grade level. Can be awarded in two forms:
- Subsidized Stafford Loans: Need-based. The federal government subsidizes (pays) the interest until the loan goes into repayment.
- Unsubsidized Stafford Loans: Not need-based. The federal government does not subsidize (pay) any interest. You have the option to pay interest while attending school or have interest accumulate and be capitalized at repayment.
Alternative loans allow you to borrow the remainder of what traditional financial aid programs do not cover. Loans may require a cosigner. Interest rates vary.
MCAD Admissions Merit Scholarships
This competitive scholarship, which recognizes achievement and talent, is open to all entering undergraduate students. If you submit all application materials by the deadlines you may be eligible. Awards are granted every year for a total of eight semesters of full-time attendance, provided you maintain the scholarship requirements.
MCAD Annual Merit Scholarships
This competitive scholarship competition is for students who are currently enrolled full-time in a degree-seeking program. Competition requirements and deadlines are posted each spring. A minimum cumulative GPA of 3.0 is required to enter. Competitions are judged by MCAD faculty.
Special Competition Scholarships
ARTS and the Scholastic Art Awards are national competitions for which you may earn scholarships that MCAD then matches. To receive a matching scholarship, you are expected to place as a gold key winner at the national competition and to be admitted to MCAD. These are need-based funds and are awarded on a funds-available basis. Please consult your high school art teacher for more information.
Alumni MCAD Legacy Scholarships
This is a total scholarship of $8,000 over four years ($2,000 per year). Children of those who have completed an undergraduate degree program at MCAD are eligible for this scholarship.
MCAD Laptop Scholarship
The MCAD Laptop Scholarship provides admitted students with a free MacBook computer when they enroll at the college. Students who have submitted their undergraduate application and all supporting materials by the Early Action Deadline are eligible for this scholarship.
Outside scholarships, many of which are based on merit or special criteria, are great options for funding your education. MCAD students are often awarded money by businesses, community groups, and religious organizations, to name a few.
Many different part-time jobs are available to help you offset educational expenses and gain work experience. Work-study positions are posted approximately one week before classes begin and as available throughout the semester. Work-study students typically work five to ten hours per week.
Installment Payment Plan
You may be eligible to participate in a monthly payment plan once you are admitted and have submitted your tuition deposit.
Benefits for Veterans and Dependents
Veterans and their dependents may be eligible to receive help paying for tuition, fees, supplies, housing and more.