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. 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. Scholarships do not need to be repaid. Loans Federal Direct Stafford Loans A long-term, low fixed-interest rate loan based on your grade level. Can be awarded in two forms: 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 The Federal Direct Graduate PLUS Loan is a fixed interest loan program that enables graduate students to borrow directly from the U.S. Department of Education to help pay for educational expenses. It is not based on need; however, you must still file the FAFSA to be eligible. More information about the loan and instructions to complete the application and Master Promissory Note can be found on the Federal Student Aid website. Unlike grants and scholarships, loans need to be repaid. International students do not qualify for federal financial aid. Tuition Reimbursement Through Your Employer If you intend to work while earning your degree, ask your employer if tuition reimbursement is available to you. Tuition reimbursement policies vary greatly based on your place of employment. Employers/companies may: not offer any reimbursement; reimburse education costs within a discipline relevant to the business; or reimburse anywhere from 50 to 100 percent of all expenses, regardless of relevance. Please contact your place of employment's Human Resource Department for more information. MCAD is happy to provide your employer with more information on the MA, including course descriptions and skills learned. Contact admissions@mcad.edu for more information. Installment Payment Plan You may be eligible to participate in a monthly payment plan once you are admitted and have submitted your tuition deposit. Installment plan not available to international students enrolled in an online MA program.