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The Musrara art school provide a variety of scholarships every year, requiring social involvement and contribution to the community. The school also grant awards for excellent accomplishments in studies and social or cultural contribution to the school's environment. The scholarships and awards committee is made out of the heads of departments, selected teachers and administrators. The school give a very high priority for the search of new sources for scholarships and awards, so as many students as possible will be able to enjoy financial aid. sometimes up to the full tuition fee.

The Gutwirth foundation scholarships – Scholarships for students with financial hardships, student in their first year can also apply.
The Zvi and Ofra Meitar family foundation scholarship  – Full scholarships for financially challenged excellent students.
The Jerusalem Foundation's Louis Edelstein scholarships - For students initiating projects for the community in their field of art.
The Dalia and Eli Hurvitz foundation scholarships - For students in the phototherapy department.
The Matanel foundation scholarships

The Alexander Grass Scholarships - For discharged soldiers, part of the ‘projects for the community’ initiative.
The Ministry of Sport and Culture scholarships - For students living in the israeli periphery. 
The Ministry of Aliyah and Immigrant Absorption scholarships.
The Dr. Robert & Goldie Hoffman Scholarship in their Memory  -  
Scholarship for students with financial hardships and school achievements.


Mayor’s award
– The award is given by the mayor of Jerusalem, for accomplishment in studies and for the final project.
The Hanna Messer award – Given by the school for social and cultural contribution to school environment. 
The Morel Derfler excellence award – The award is given in memory of Morel Derfler, an artist and a teacher at school, who died in a suicide bombing in Naharia in September 2001. The award is funded by Morel’s family and friends. 
The Uri Sabag award – In memory of Uri Sabag, an Israeli film producer. The award is given by the Sabag family to a school graduate for a final project in the fields of video, animation and experimental film.

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