Scholarships, Grants, & Loans

MICA Graduate Fellowships

MICA recognizes and rewards exceptional talent. Each year, five fellowships, based solely on merit, are awarded to MFA students. These MICA Graduate Fellowships are awarded in the amount of $13,920 per year. Recipients are selected by the Graduate Committee, which is composed of the directors of each program, the academic dean and the dean of the graduate program. The award is based on exceptional excellence in portfolio as well as academic accomplishments. All students accepted for admission are automatically considered. No financial aid application is required.

MICA International Graduate Fellowship

Each year one outstanding international student is selected as the recipient of a $12,000-per-year MICA International Graduate Fellowship. Excellence in portfolio is the criteria for this award. Recipients are selected by the Graduate Committee. All international students who have been accepted for admission are automatically considered for this fellowship. No financial aid application is necessary.

MICA Graduate Scholarships

MICA makes graduate scholarships available to needy talented students. Need is established through the financial aid process. Talent is recognized in portfolio review. Individual awards range from $2,000 to $13,920 per year and are available in each program of study. All students with demonstrated need are considered for these scholarships, and a completed financial aid application must be submitted by March 1. These scholarships are renewed based on academic performance and demonstrated need.

Other Scholarships & Fellowships

Additional scholarships funded by private donors and foundations are available to entering graduate students. Eligibility is based on a variety of criteria including state of residence and intended program of study. Students accepted for admission will automatically be considered. No financial aid application is required.

Federally Sponsored Loans

The basis of a financing plan is often one or both of the federally guaranteed loans. The two programs available include the Federal Stafford Loan and the Federal Unsubsidized Stafford Loan. Each of these loans requires an application.

  • Federal Stafford Loan - Federal Stafford Loans are federally subsidized, need-based, deferred interest loans. Full-time graduate students may be eligible to borrow up to $8,500 per year. Stafford loans have a fixed interest rate of 6.8%. Interest does not accrue and payments do not commence until six months after completion of studies.
  • Federal Unsubsidized Stafford Loan - Federal Unsubsidized Stafford Loans are not based on need. This loan is available to all students, regardless of income. A borrower may have a Subsidized and an Unsubsidized Stafford loan, although the combined total may not exceed $20,500 per year. Interest rates are the same as the Stafford Loan. This loan has interest that accrues from the date of the disbursement of loan proceeds. Interest payments may be deferred while students attend school. Interest can be paid or may be added to the principal by your lender at your request (this is called capitalization of interest). Repayment of the principal commences six months after completion of studies.
  • Federal GRAD PLUS Loans – GRAD PLUS Loans are federally guaranteed and need is not a factor. GRAD PLUS is available to graduate students for up to the total cost of education minus aid. The current interest rate is fixed at 8.5%. There is a 3% origination/insurance fee. Repayment begins 60 days after receipt of the loan proceeds with up to ten years to repay. Interest and principal may be deferred in some circumstances. A credit analysis is required. Approval is based solely on good credit-income and personal debt are not factors in determining loan approval.

Teaching Internships

A limited number of paid teaching internships are available each fall and spring semester. These positions are open to MFA candidates and offer valuable experience and the opportunity to work with undergraduate faculty. Application for teaching internships must be made through the Office of Graduate Admission.