To All MCAD Students:
The MCAD Board of Trustees and I all understand the cost of attending a private art and design college creates a financial challenge for you and your families. While we do everything we can to keep MCAD affordable, we still need to meet the increased costs of maintaining a high quality educational experience. For this reason, I am writing to let you know that the Board of Trustees has approved a 3.5% increase over the current year's tuition of $37,362. Tuition for the 2018-19 academic year will be $38,670 or $1,308 more than this year. Housing costs will increase by 3%. This coming year, 2018-19, MCAD will be applying over $11.5M in institutional financial aid. In 2013-14, we were funding financial aid at $7.2M.
We have kept the increase as modest as possible so as to minimize the impact on MCAD students and families. The average increase for Minnesota private colleges for 2017-18 was 3.5%. MCAD's increases have been very much in line with area colleges as well as other art and design colleges across the country.
Tuition alone does not cover the cost of the education at MCAD. We are continually seeking funding from outside sources to help offset the costs of attendance and to keep the price of attending MCAD as affordable as possible. Raising scholarship funds has been, and continues to be, the prime focus of our institutional advancement efforts. Our fundraising efforts have increased the amount of scholarship money available from $607,233 in 2012-13 to $1,246,694 in 2016-17. Scholarships this year went to 289 students compared to 217 in 2012-13.
We look forward to continuing to work with you as you pursue your art and design goals.