A complete financial aid packet with all initial applications and instructions is automatically mailed to students applying for admission. Packets become available in early January for the next academic year.
Financial aid awards are only offered to students who have been accepted for admission. However, applicants should not wait for an admission decision before beginning the financial aid process. Completion and submission of financial aid applications and required documents by February 15 ensures priority-funding consideration.
Financial Aid Application Procedures
Step 1: Application for Admission
Step 2: FAFSA
Submit the Free Application for Federal Student Aid (FAFSA).
MICA's Federal School code is 002080.
Step 3: MICA Undergraduate Financial Aid Application
Complete and mail the MICA Undergraduate Online Financial Aid Application.
Prospective First Year Students
Class of 2021 Applying For Aid 2017-18 Academic Year
MICA requires the FAFSA as well as our own MICA Financial Aid Applicaton. A complete Financial Aid file consists of a valid FAFSA as well as a MICA Financial Aid Application and any other individual documents as required. You will have a personal aid counselor to help you from start to finish.
Early 2017-18 FAFSA Available October 1
You may be aware that the Free Application for Federal Student Aid (FAFSA) will become available for completion earlier than in past years. The 2017-18 FAFSA will be available October 1, 2016. All colleges will require the FAFSA as the basis for determining eligibility for most sources of need-based aid. We encourage all new students to file the FAFSA as soon as possible after October 1, 2016. The sooner you begin the process, the sooner MICA can begin to search for funds for you.
Online FAFSA Submission and the IRS Data Retrieval Tool
Complete the FAFSA at fafsa.gov. MICA's school code is 002080. You and your parents should use the IRS Data Retrieval Tool (DRT) on the FAFSA application to transfer 2015 federal income tax data from the IRS onto the FAFSA automatically. Using DRT results in fewer errors and less paperwork and forms required by the federal goverment. Be sure to use the exact address (including abbreviations) as it appeared on the 2015 federal income tax return to transfer the data successfully.
All prospective students are encouraged to complete Financial Aid applications as well as Admission Completitive Scholarship applications. Completing both applications will give you the best opportunity to understand all financial resources available to you. Admission Competitive Scholarship applications are due February 1. MICA-sponsored scholarships have always been a significant piece in our financial aid packages. Students who choose to apply through Early Action are automatically considered for early merit awards (see timeline below) and any awards won through the Admission Competitive Scholarship Competition will be added to their Early Financial Aid awards and in a FINAL AWARD on April 1.
There are three application options: Early Action I, Early Action II, and Regular Decision
Early Action I
Early Action is non-binding and enables students with strong interest in attending MICA to learn of their admission decision and aid award months earlier than Regular Decision. Students admitted through Early Action have until May 1 to make their enrollment decision and make their deposits.
Early Action Timelines
Early Action I
December 1 - Both Admission and Competitive Scholarship Application and Financial Aid Documents Due
January 15 - Admisson Decision and Early Financial Aid Awards mailed
April 1 - Final Financial Aid Awards mailed (include both Early Action and Competitive Scholarships Awards and all final need-based aid)
May 1 - Candidate Reply Date and Deposits due
Early Action II
January 5 - Both Admission and Competitive Scholarship Applicaton and Financial Aid Documents Due
February 15 - Admission Decision and Early Financial Aid Awards mailed
April 1 - Final Financial Aid Awards mailed (includes both Early Action and Competitive Scholarships Awards and all final need-based aid)
May 1 - Candidate Reply Date and Deposits due
Students who did not have complete financial aid files at the time of Early Decision or Early Actions notifications but completed their financial aid file by Regular Decision deadline, will have Final financial aid awards mailed on April 1.
Regular Decision is the last admission cycle. Students admitted through Regular Decision have until May 1 to make their enrollment decision and make their deposits.
Regular Decision Timeline
February 1 - Admission and Competitive Scholarship Application
February 15 - Financial Aid Documents Due
February 26 - Admission Decision mailed on a rolling basis beginning February 26
April 1 - Final Scholarships and Final Financial Aid Awards mailed to all students including Early Action Students
May 1 - Candidate Reply Date
Students who did not have complete financial aid files at the time of Early Action notifications but completed their financial aid file by the Regular Decision deadline, will have final financial aid awards mailed on April 1.
With the arrival of the new early FAFSA and income data now being assessed for 2017-18 on 2015 federal tax return data, some families may have significant changes in income from 2015 to 2016 income data. MICA will give families the opportunity to explain significant drops in income or other special circumstances from 2015 to 2016 and, as appropriate, will consider the use of 2016 income information in assessing needs. Please use the section provided on the MICA Financial Aid Application to explain any significant changes from 2015 to 2016 income.
Information Important to Consider in Making Your College Selection
Financial decisions are only one important factor in deciding which college to attend. Value is another important factor. Be a wise consumer. Make sure you assess and compare value factors for each college you are considering. Value factors include Retention Rates, Graduatin Rates, Student Loan Default Rates, Employed or in Graduate School one year after graduation. MICA's Value is evident in the following current statistics:
Retention Rate - 87%
Graduation Rate - 73%
Default Rate - 3.8%
Working or in Graduate School One Year after Graduation - 95%
Office of Financial Aid
Maryland Institute College of Art
1300 Mount Royal Avenue
Baltimore, MD 21217
Fax 410- 225-2558
This page was last updated on 12/14/2016.