Additional Financial Aid and Financing Resources
In addition to any federal and MICA aid you may be eligible to receive, we suggest you explore additional information about your college-financing options. The sections below offer links to a range of websites that can assist you in this process.
State-Sponsored Aid
Most states provide financial aid programs. Some states give students the option of using state-sponsored aid at MICA. Please contact your state education department to understand how your state aid programs operate.
Special Note to Maryland Residents
A variety of scholarships and grants are available to residents of Maryland. Information, required applications, deadlines, and instructions may be obtained from:
Maryland Higher Education Commission
Office of Student Financial Assistance
839 Bestgate Road, Suite 400
Annapolis, MD 21401
410-260-4565 or 1-800-974-1024
www.mhec.state.md.us
Tuition Installment Plan
To help plan for the year's educational expenses, MICA has authorized Sallie Mae to offer a monthly tuition installment plan. The TuitionPay Plan allows you to pay all or part of your academic year educational expenses in monthly installments.
For more information, contact an Sallie Mae representative designated to work with MICA families by calling 1-888-829-3880, or visit their website: www.tuitionpay.com.
Outside Scholarships
Free scholarship searches are available at the following websites:
- www.ScholarAid.com
- www.wiredscholar.com
- www.finaid.org
- www.uncf.org (African American)
- www.apiasf.org (African American)
- www.hsf.net (Hispanic)
- www.latinocollegedollars.org
- www.collegefund.org (Native American)
- www.college-scholarships.com
- www.gocollege.com
- www.fastweb.com
- www.salliemaefund.org
- www.scholarshipexperts.com
- www.srnexpress.com
Alternative Loans
Alternative loans can provide the extra assistance many families desire. There are many private educational loan companies. MICA has no preferred private loan lenders, but lists the following lenders as a good place to start the search. Many of our students have had success in obtaining private loans at competitive rates from the lender listed below. All of the plans listed are reputable, and each company has excellent customer service. These programs are flexible enough to meet additional educational expenses that may be incurred for MICA programs that require personal computers.
- CitiBank - CitiAssist Student Loan
- 1-800-967-2400
www.citiassist.com (online application available) - Sallie Mae - Signature Loan
- 1-888-2-SALLIE
www.salliemae.com/signature - Bank of America – Bank of America Private Loan
- 1-800-344-8382
www.bankofamerica.com/studentloans - Wachovia – Wachovia Education Loan
- 1-800-338-2243
www.wachovia.com/wel
Additional Aid Information
Educational Tax Credit Information
The Taxpayer Relief Act of 1997 offers good news for MICA parents and students. The act provides a package of tax credits, interest deductions, and penalty-free IRA withdrawals. Detailed information about the various aspects of the act is provided on the following websites. Additional information may also be obtained from your tax advisor.