I can answer some of that. Yes, the difference between COA and the $37K would be the merit aid and/or some portfolio aid. A portfolio is not required, but it can help. Per the website, (barring a full ride or one of the elite scholarships), SCAD offers up to $12K in merit aid and up to $7K in portfolio aid.
Yes, you must keep up a 3.0 in order to maintain that.
There is a rubric for grading each project/assignment, so it isn’t any more subjective than an English teacher grading a paper (IMO.)