Student Scholarships | Minneapolis College of Art and Design

Student Scholarships

Scholarships are critically important to the success of MCAD students. 97% of MCAD students receive some sort of financial aid; it is the difference between a realized ambition and a deferred dream. There are four ways to provide scholarship support for MCAD students: endowed scholarship funds, annual scholarships, NOW Scholarships, and stock giving. 

 “The scholarship I received allowed me to focus on my studies. Scholarship donors are truly guardian angels. Thank you for investing in us and investing in arts education.” –Elizabeth King Aviles ’15

Endowed Scholarship Funds

Endowed scholarship funds at MCAD are established with a contribution of $25,000 or more. These permanent funds keep growing and giving each year as only a portion of the income generated is awarded annually in scholarship support. Often, endowed scholarship funds honor a family member, mentor, or friend of the college and may be funded with a single gift, gifts over a number of years, or a bequest.

Annual Scholarships

Some donors provide scholarship support on an annual basis. Individuals, corporations, and foundations can create named, annually renewable funds by committing $2,000 or more each year for four or more years. These funds will be expended in full each year and therefore earn no income.

Donors may establish award criteria (Minimum GPA, area of study, etc.) or may allow the college to distribute funds based on student need. Contributions to endowed scholarship funds do not qualify for President’s Circle Membership.

NOW Scholarships

Even with financial aid packages that include scholarships, work-study, and loans, some students struggle to cover the remaining costs of the MCAD education. Juniors and seniors are particularly at risk for falling behind, as they have added expenses associated with projects and exhibitions. In most cases, a one-time NOW Scholarship of $3,000 will enable these hardworking students to continue their academic progress.

NOW Scholarship contributions qualify for the President’s Circle Membership.

Stock Giving

Your broker can assist you in making a gift of stock via a direct transfer to MCAD. Giving a gift of publicly traded stock that has increased in value and that you have owned for more than one year may provide greater tax benefits than giving cash. Your charitable income tax deduction is equal to the fair market value of the stock and you avoid paying the capital gains tax on any increase in the current value over the original cost of the stock.  

To endow a scholarship, establish an annual scholarship fund, or provide current students with immediate NOW Scholarship support, contact Cindy Theis, Vice President of Institutional Advancement, at 612.874.3777 or ctheis@mcad.edu.