We encourage that all incoming domestic ( US citizens and eligible Non-Citizens) to complete the 2026-2027 Free Application for Federal Student Aid (FAFSA) MICA's federal school Code is 002080 to be considered for institutional need based aid and federal aid. Incoming International students are encouraged to complete the CSS profile ( MICA’s ID is 5399) to be considered for institutional need based aid.
Below is a list of various financial options to consider for financing your education at MICA.
Federal Direct Student Loan: Loan funds provided to the student by the U.S. Department of Education, through the school. The Free Application for Federal Student Aid (FAFSA) is the application that must be completed each year in order to be considered for federal aid. There are two types of Federal Student Direct Loans: Subsidized and Unsubsidized. Students with financial need can qualify for a subsidized loan, and the government pays the interest on the loan while the student remains enrolled at least half time. Students who don’t demonstrate financial need qualify for an unsubsidized loan and interest accrues while the student is in school. Student must complete Entrance Counseling, Master Promissory Note to receive disbursements.
The Federal Direct Parent PLUS Loan is a credit-based loan available to parents of dependent undergraduate students. Students will not have this loan included in their financial aid offer. Parents must apply separately for this loan via StudentAid.gov. Effective July 1st 2026, the maximum loan amount a parent can apply for in one academic year is $20,000 per student with a total lifetime loan limit of $65,000. For more information on the changes beginning with the 2026-2027 academic year please click here.
Private student loans or alternative loans are available to students who are not eligible for federal loans or who need assistance beyond their federal financial aid eligibility. These loans are made through banks and private lenders and are subject to their terms.
Alternative student loans should only be considered after first applying for federal student aid.
Learn more about federal versus private loans. Private loans should only be considered after first applying for federal student aid using the FAFSA.
Monthly Installment Payment Plan
Students can pay charges for a Fall/Spring/Summer term of tuition, fees, room, and board in five installments with no interest charged. There is a $40 non-refundable enrollment fee per semester.
Many organizations outside of MICA offer scholarship opportunities. Scholarships outside of MICA will likely have different deadlines and eligibility requirements, so it is recommended to start your research early.
Students who have served in the military and or are dependents of a disabled/deceased veteran, or are currently on active duty, may qualify for educational benefits through the Department of Veterans Affairs (VA).
State Aid
MD residents should take advantage of any MD state grant/scholarships they might qualify for. Please visit MDCAPS for more information.Note 2026-2027 FAFSA must be completed before March 1st deadline for consideration Non-MD residents should check for grants/scholarships available through their state governments.
Employer Tuition Assistance
Search your/ your parents employee benefits guide and HR website for any mention of tuition assistance/reimbursement or professional development funding, etc. Even if tuition assistance is not an advertised benefit, ASK! Ask the HR department, or if they do not have one, ask your supervisor.