Loans and Financing | Minneapolis College of Art and Design

Loans and Financing

Federal Direct Parent Plus Loans

Available to your parents if you are still considered a legal dependent according to the FAFSA. Parents must complete an online application and Master Promissory Note.

Federal Direct Stafford Loans

A long-term, low fixed-interest rate loan based on your grade level. This loan can be awarded in two forms based on your financial need:

  • Subsidized Stafford Loans: Need-based. The federal government subsidizes (pays) the interest until the loan goes into repayment.
  • Unsubsidized Stafford Loans: Not need-based. The federal government does not subsidize (pay) any interest. You have the option to pay interest while attending school or have interest accumulate and be capitalized at repayment.

Alternative Loans

Alternative loans allow you to borrow the remainder of what traditional financial aid programs do not cover. Loans may require a cosigner. Interest rates vary.

Installment Payment Plan

You may be eligible to participate in a monthly payment plan once you are admitted and have submitted your tuition deposit. MCAD’s Student Accounts Office manages this program.

If you are having issues with your student loan lender or servicer, the Student Loan Advocate with the Minnesota Department of Commerce is here to help. To file a complaint, please visit their webpage.

For general questions, please contact Student Loan Advocate, Jabra Kawas, at jabra.kawas@state.mn.us or 651-539-1022.

As a student financial aid recipient, you have certain rights and responsibilities.

Learn More

Address

2501 Stevens Avenue
Minneapolis, MN 55404

Contact Us

612.874.3700
800.874.MCAD (6223)
Fax: 612.874.3701

Campus Directory

Join our Email List

Land Acknowledgement

The Minneapolis College of Art and Design (MCAD) acknowledges it is located on traditional, ancestral, and contemporary lands of Indigenous people. This is the ancestral homeland of the Dakota and Ojibwe people, who were forcibly exiled from the land because of aggressive and persistent settler colonialism. We recognize that this place has a complex and layered history. As a community dedicated to creativity, MCAD is committed to ongoing efforts to support and advocate for American Indian Nations and peoples.


Nondiscrimination Policy

MCAD admits students of any race, color, creed, religion, ancestry, national origin, sex, sexual orientation, age, or marital status to all the rights, privileges, programs, and activities generally accorded or made available to students at the school. It does not discriminate on the basis of race, color, creed, religion, ancestry, national origin, sex, sexual orientation, gender identity, gender expression, age, or marital status in the administration of its educational policies, scholarship and loan programs, and other school-administered programs.