New Student Scholarships
Each year MIAD awards in excess of a million dollars in scholarships to new students. All scholarships for the Fall Semester of 2012 will be awarded at the time of admission, starting December 1, 2011. All MIAD scholarships are based on merit and need. Scholarships are monies that do not have to be paid back. MIAD scholarships are based on artistic achievement, academic performance, maturity, and responsibility.

A MIAD scholarship is awarded in the form of a tuition remission and is renewable annually for a maximum of four years, as long as the student maintains a satisfactory academic progress and continuous full-time enrollment.

Continuing Student Scholarships
MIAD participates in scholarship activities with many national, regional, and local businesses and individuals. The following is a partial list of additional scholarship opportunities available to continuing MIAD students. The Greater Milwaukee Foundation, The Journal Foundation, Willard Davidson Scholarship, Frederick C. Layton Scholarships, Marquette Medical Systems Foundations, Land's End Scholarship, United Parcel Service Scholarship, Harley Davidson Foundation Scholarship, The Johnson Foundation, QUAD/Graphics Scholarship, Wisconsin Foundation of Independent Colleges, MIAD/Layton Alumni Scholarship, and many others.

Outside Scholarships
MIAD encourages students and families to be aware of scholarship opportunities that are available from non-MIAD sources. Many scholarships that do not originate with MIAD are available to students who may qualify based on special skills, community activities, ethnic or racial heritage, or other criteria. Good sources of information about these scholarships are high school guidance offices, libraries, a parent's place of employment, churches, and civic organizations.

For a list of external scholarship websites, download the Scholarship Website List.

Grants do not have to be paid back. Applicants are required to complete the Free Application for Federal Student Aid (FAFSA) in order to receive any of the following grants.

FEDERAL GRANTS

Federal Pell Grant
The Federal Pell Grant is a need-based grant for undergraduate students who demonstrate exceptional financial need (as determined by the FAFSA). The amount awarded is based on need. The maximum Pell Grant for 2012-13 is $5,550.

Federal Supplemental Educational Opportunity Grant
The Federal Supplemental Educational Opportunity Grant (SEOG) is a need-based grant for undergraduate students who demonstrate exceptional financial need (as determined by the FAFSA). The amount varies yearly.

STATE GRANTS

Minority Retention Grant
Awarded to Wisconsin minority undergraduates attending MIAD, excluding first year students, enrolled at least half time and in good standing. Awards are based on financial need and amounts vary yearly.

Talent Incentive Program Grant
The Talent Incentive Program (TIP) Grant is awarded to the most financially needy and educationally disadvantaged Wisconsin students attending MIAD.

Wisconsin Tuition Grant
The Wisconsin Tuition Grant Program provides grant assistance to undergraduate, Wisconsin residents enrolled at least half-time and in good standing at MIAD. Awards are based on financial need (as determined by the FAFSA). The maximum award amount is established annually by the Higher Educational Aids Board. The maximum award amount for the 2012-13 academic year is $2,900.

MIAD participates in Federal and non-federal student loan programs. Student loans are a primary source for students and families to help meet the cost of education. The Federal Direct Loan Program is the main source of loans used by MIAD students. Families also have the option to use the Federal Direct Parent Loan for Undergraduate Students (PLUS); a federal loan applied for by parents of an eligible students, or a private alternative private loans; loans applied for by the student with a cosigner. Federal rules and individual lending institutions govern these loans. Loans are monies that have to be paid back.

Federal Direct Subsidized Loan
Federal Direct Subsidized Loan eligibility is based on financial need as determined by the Federal needs analysis process. Maximum loan amounts per academic year are $3500 for foundations students, $4500 for sophomores and $5500 for juniors and seniors. Loan limits are based on the student's class year standing at MIAD. The maximum total limit for undergraduate study is $23,000. Students apply for a Federal Direct Loan for an academic year (two semesters.) One-half of the total loan amount will be disbursed each semester. Funds are automatically credited to the student's account in the MIAD Business Office.

The federal government pays the loan interest while the student is enrolled at least half time. The interest rate is 6.8% for 2012-2013. There is a 1% origination fee charged for this loan. Deferments, loan consolidation, and refinancing options are available.

Federal Direct Unsubsidized Loan
The Federal Direct Unsubsidized Loan that is not based on financial need or family income. "Unsubsidized" means that the federal government does not pay the interest on the loan. Dependent students are eligible for $2,000 in addition to the Subsidized Direct Loan amount. Independent students are eligible for amounts depending their year in school. There is a combined maximum of Subsidized and Unsubsidized of $31,000 for undergraduate study.

Students are charged interest while they are enrolled in school. The interest rate is 6.8% for 2012-2013. There is a 1% origination fee charged for this loan. Deferments, loan consolidation, and refinancing options are available.

Federal Direct PLUS (Parent) Loan
"PLUS" stands for Parent Loan for Undergraduate Students. This is a federal loan for parents of dependent students. Eligibility for this loan is not based on financial need or family income.

Parents choosing a PLUS Loan must apply each year and undergo a credit check. The cost of attendance (COA) minus your financial aid is the total amount you can apply for.  Your 2012-13 financial aid award letter list this amount as “Additional Loan Eligibility”

The interest rate is determined by the Department of Education annually. The interest rate for the 2012-13 year is 7.9%. There is also a 4% origination fee.  This is a loan in the Parent’s name therefore the Parent must apply for the loan.   The interest on the Parent Plus loan is 7.9% fixed.  The origination fee is 4%.  For example, Parent is accepted for a Plus loan for $20,000.  The origination fee is $800.  MIAD will receive $19,200 to apply to your student’s account.

Payments can be deferred while a student is in school. Deferments, loan consolidation, and refinancing options are available during repayment.

Private Alternative Educational Loan Programs
MIAD partners with lenders in providing students a non-federal loan program. Private Alternative loans are loans through a lending institution that is not part of the federal government programs.  Research all possibilities for scholarships, grants, and work before borrowing from a Private Alternative loan program.

You can apply to borrow what it costs to attend MIAD (tuition, housing, food, and supplies) minus any other financial aid you are receiving. The amount borrowed must be approved by MIAD staff. If needed MIAD financial aid staff will help you determine the amount of your alternative loan.

Alternative loans can be a choice for students that have a good credit worthy cosigner.  In some cases the private alternative loans can be a better option than a Parent Plus loan.  Some lenders do not have origination fees and offer both a fixed and a variable interest rate.   Students are the borrowers with the cosigner taking responsibility if the student does not pay the loan. Cosigners are usually parents or other close relatives.

Please contact the MIAD Financial Aid Office for any further information.

Student employment opportunities on the MIAD campus or off campus at our Community Service sites are in the form of Federal Work-Study and MIAD Campus Employment. Students work with the Career Services Coordinator who is located in the MIAD Career Services Office to secure employment in the appropriate campus area.

Federal Work Study
Federal Work Study is a need-based form of financial aid. Students are paid from a mix of federal and MIAD funds. The work study award listed on your MIAD financial aid award letter (Potential Federal Work Study) is the amount that a student could potentially earn if employed on campus.  Students are paid through the regular MIAD payroll process.  You must work to earn these funds.