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Students who demonstrate financial need may qualify for grants (MFA only), which do not need to be repaid, or loans, which must be repaid after graduation. Students with academic achievement and artistic talent may qualify for merit scholarships (MFA only). Additional financial aid options are also available.


Grants (MFA Only)

MCAD Opportunity and Renewable Opportunity Grants

Awarded by MCAD based on financial need. You must complete the FAFSA by the priority deadline.

Yellow Ribbon Grant

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.


Scholarships

External Scholarships

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.


Scholarships (MFA Only)

MCAD Admissions Trustees Scholarship

This merit-based competition is open to all entering MFA students. If you submit all application materials by the deadlines you may be eligible.

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.


Loans

Federal Direct Stafford Loans

A long-term, low fixed-interest rate loanbased 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.

Federal Direct Graduate PLUS Loans

You may borrow up to the cost of attendance minus any other financial aid. You must complete an online Master Promissory Note and loan request to borrow this loan.

Alternative Loans

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.

Learn about required loan counseling.


Graduate Assistantships (MFA Only)

Graduate Assistantships provide students with meaningful extracurricular experience while offsetting expenses. Available both on- and off-campus, assistantships last two semesters. Graduate Assistantships are subject to financial aid regulations and may result in a reduction of Federal Stafford Loans. To apply, you must be enrolled in nine or more credits.


Installment Payment Plan

You may be eligible to participate in a monthly payment plan once you are admitted and have submitted your tuition deposit.