by our College Data Analytics TeamThe majority of students are not billed the full sticker price of a school. Rather, they are offered a financial aid plan that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The price tag of going to Minneapolis College of Art and Design can appear tremendous, but do not forget that almost all students obtain some kind of financial help.
What financial assistance options will MCAD offer you, and what will you qualify for? Read on for more information. Keep reading to learn what amount of financial assistance will be accessible to you.
How much aid you qualify for depends largely on your family’s financial circumstances. The information provided on this page can help you determine how much aid you may receive from Minneapolis College of Art and Design.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
For freshmen starting at Minneapolis College of Art and Design, 100% of the incoming full-time class was awarded financial aid roughly 169 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $29,682 |
| Institutional grants & scholarships | 100% | $24,153 |
| Federal Pell grants | 43% | $5,589 |
| State/local grants | 100% | $3,086 |
| Federal student loans | 75% | $5,427 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At MCAD, some 99% of undergraduates were awarded grant or scholarship aid averaging $27,086 (for some 699 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 99% | $27,086 |
| Federal Pell grants | 42% | $5,378 |
| Federal student loans | 75% | $6,707 |
Title-IV recipients living on campus saw average grant aid of $30,046.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $20,794 |
| $30,001 – $75,000 | $21,827 |
| Over $75,000 | $30,584 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
The net price represents the average annual cost a title-IV-receiving student pays after grant aid is subtracted from the full cost of attendance.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $29,926 |
| Off-campus title-IV students | $25,935 |
For a personalized estimate based on your family’s financial situation, use MCAD’s net price tool: mcad.edu/net-tuition-calculator-first-year-students.
The median federal debt load at MCAD comes to $19,225 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $19,225 |
| Median federal debt (graduates only) | $27,000 |
| Typical 10-year monthly payment (graduates) | $286.24/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
A single median figure conceals how much debt outcomes differ student to student. These percentiles trace how cumulative federal debt is spread among borrowers at MCAD.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,750 |
| 25th percentile | $8,750 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $35,596 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $21,500 |
| Middle income | $20,500 |
| High income | $15,250 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $19,000 |
| Continuing-generation students | $19,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $19,000 |
| Independent students | $21,275 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. MCAD.
The Stafford program is the federal direct-loan vehicle most undergraduates use. The annual Stafford volume below reflects program activity at MCAD:
| Metric | Value |
|---|---|
| Stafford loan recipients | 3595 |
| Total Stafford loan amount | $72,576,857 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 14 |
| Total GI Bill amount | $353,034 |
| Average GI Bill amount per recipient | $25,217 |
References
More about our data sources and methodologies.