Maine College of Art (MECA) Financial Aid and Scholarships
Students Receiving Aid
100%
Total Aid Amount
$7.574M
Financial Aid Official Website
www.meca.edu/financial-aid
Students can avail of scholarships provided by the college, such as Maine Difference Scholarship, Maine Metal Products Association Scholarship, Maine Public Relations Council Scholarship, and Maine State Society of Washington D.C. Scholarship, if they find educational expenses to be on the higher side. It is interesting to note that almost every student at MCA receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $2,155,252. One can visit MCA's financial aid page at http://www.meca.edu/financial-aid for more information. At MCA, the total percentage of applicants who receive the Federal Grant stands at 42%. Meanwhile, 100% of the applicants receive the Student Grant and 100% are awarded the Institution Grant, while 42% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,304, and the same stands at $1,344 for State Grant awardees and $14,900 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,480. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Those with a family income below $30,000 per annum, would get an average federal aid of $19,497 in a year. The average aid amount stands at $18,149 for an annual family income between $30,001 and $48,000. This amount comes to $18,132 for those who fall under the $48,001-$75,000 family income bracket. On the other hand, the average federal aid stands at $14,376 for those with an annual family income between $75,001 and $110,000, and at $14,521 for an income more than $110,000. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At MCA, an estimated number of 86% of the applicants choose to go for student loans.
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