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#2 Best Private Colleges in Maryland

MICA Tuition & Cost

Baltimore, Maryland

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How much does it cost to attend?

Sticker Price
$67,075
Costs for Maryland Institute College of Art
Fee Cost
Tuition$48,510
Books and Supplies$1,500
Other Fees$1,820
Room and Board $13,720
Other Expenses Budget$1,525

Annual Prices

The annual list price to attend Maryland Institute College of Art on a full time basis for 2018/2019 is $67,075 for all students regardless of their residency. This fee is comprised of $48,510 for tuition, $13,720 room and board, $1,500 for books and supplies and $1,820 for other fees. Out of state tuition for Maryland Institute College of Art is $48,510, the same as Maryland residents.

All price data is sourced from the 2019/2020 U.S. Department of Education National Center for Education Statistics survey.
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Net Price

Net price is indicative of what it actually costs to attend Maryland Institute College of Art when typical grants and scholarships are considered. The net price varies by family income and financial need.

Average Net Price 2018/2019
$42,750
Net Price by Income Maryland Institute College of Art
Family Income Net Price Paid
$0 to $30,000$30,982
$30,001 to $48,000$33,983
$48,001 to $75,000$38,411
$75,001 to $110,000$42,643
$110,000+$44,967

The average reported annual net price for Maryland Institute College of Art for students receiving grants or scholarship aid was $42,750 in 2018/2019. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

Costs for Similar Colleges

Financial Aid

95% of full-time undergrad Maryland Institute College of Art received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $21,922 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 44% of students received Federal Student Loans averaging $5,321 and 5% of undergrads took out private student loans averaging $29,701.

Finanical Aid Maryland Institute College of Art
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $21,922 95%
Institutional Grants and Scholarships $19,977 95%
Pell Grants $4,912 21%
Other Federal Grants $949 9%
State and Local Grants $8,650 8%
Federal Student Loans $5,321 44%
Other Student Loans $29,701 5%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to Maryland Institute College of Art, we've modeled a ten year student loan with an original principal value of $135,428. The loan balance of $135,428 is a four year multiple of the $33,857 average net price. This is a estimate of what you could owe upon graduation if you were to qualify for average financial aid and what a degree really may cost. Should you not qualify for financial aid, you may owe significantly more when you graduate. Based on these assumptions, a monthly repayment of $1,292 could be required to satisfy your student loan.

Please note that financial aid is not guaranteed and is only available for qualifying students. Federal Student Loans are not grants and must be repaid with interest. The current Stafford loan interest rate is 2.75%.

Example Loan $135,428
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $1,292.13
Total Interest Paid $19,627.90
Sum of All Loan Payments $155,055.90

Projected 4 Year Degree Price

4 Year Sticker Price
$268,300
Year All Residents
1 $67,075
2 $69,591
3 $72,200
4 $74,908

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at Maryland Institute College of Art to be $268,300 - assuming graduation in normal time. The estimation assumes a 3.8% annual increase over the next 4 years which has been the recent trend for this school.

Credit Hour Cost and Price per Class

Credit Hour and Class Costs at Maryland Institute College of Art
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $2,020 $6,060 $8,080

Estimated cost for a class at Maryland Institute College of Art based on published credit hour prices. Note that not all schools allow single class enrollment. These prices should be used for comparison purposes as to how much it may cost to take a class at Maryland Institute College of Art versus other colleges.

Tuition Payment Plans Available

Maryland Institute College of Art Payment Plans
Tuition Payment Plan Yes
Prepaid Tuition Plan No
Alternative Tuition Plan Yes
Guaranteed Tuition Plan No

Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=163295 IPEDS survey data for Maryland Institute College of Art.