by our College Data Analytics TeamRather than paying the full sticker price for a college education, most students receive a financial aid package that eases the burden with scholarships, grants, loans, and work-study options, while the amount and type of aid may vary among students.
The amount of financial assistance and scholarships or grants you can get varies based on your circumstances. Keep reading to learn more to help you to know just how much aid and scholarships to expect from MCAD.
Minneapolis College of Art and Design average financial aid offer for freshmen students is $23,684.00. About 100% of first year students receive financial aid, most of which is in the form of grants and scholarships.
Financial aid helps reduce the cost, or the full retail price of the college. However, be aware that the only true college discount is scholarships & grants.
Worried about the student loans that might be part of a financing offer? View the average amount of debt per student at Minneapolis College of Art and Design.
Colleges and universities offer institutional scholarships and grants as financial assistance to help students cover tuition fees and other educational costs. These awards, which do not require repayment, can be merit-based or need-based. Merit-based institutional scholarships recognize students who have exceptional academic records, special talents, or skills in particular areas. Eligibility for these scholarships often depends on factors such as a student’s high school performance, standardized test scores, or involvement in extracurricular activities. In contrast, need-based institutional grants are designed for students who show financial need. The amount awarded usually depends on the student’s family’s financial condition and aims.
The following numbers pertain to assistance that is supplied by Minneapolis College of Art and Design.
100% of incoming freshmen (178 total) were awarded scholarships at Minneapolis College of Art and Design, averaging $20,077.00 a piece. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 35% of first years (63 total) were awarded federal grant aid, averaging $5,250.00 each.
Amount of Financial Assistance Per Income Level
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 15.17% | $30,625.00 |
| Income 30k-48k | 10.67% | $29,252.00 |
| Income 48k-75k | 13.48% | $27,385.00 |
| Income 75k-110k | 16.85% | $24,671.00 |
| Income 110k + | 41.01% | $18,672.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
Of the 178 undergraduate students at Minneapolis College of Art and Design around 100% (178 total) receive some form of grant aid. The typical amount awarded was $23,684.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.