I work as a Creative Director at a web development agency, so I get sent resumes/portfolios quite a bit. Here is the feedback I can give. The first step for you would be to determine where and what role you would like to work within. I understand you're applying for an MFA, but I'd still do this to create a cohesive goal with your portfolio.

Design, today, is extremely competitive. I'm sure a large portion of individuals on here may disagree with me, but showing your design work isn't enough. Designers who get paid $250k/yr aren't paid that because they're just great designers—they get paid that because they can solve real problems with the design. Design is not the solution; it's apart of the solution. In my eyes, design is probably the most tangible aspect of a strategic solution.

Here are my suggestions:

• Case Studies. Quality over quantity. I'd pick these three and expand upon them: The Trevor Project, Dinner at Home, Nike+Dior.
• Draw these out and explain your thinking behind design decisions. Break down: the problem, the solution, the client's goals, the users' needs/wants, etc.
• Being able to tell how you approached and solved a problem in narrative form with design and strategy as the foundation shows your ability to think outside of your vertical.

A website isn't high-converting just because it looks cool, a print ad isn't effective just because it is well designed, and the list goes on. Design is a form of communication, and it's super easy for us designers to forget that.

I'll link some great case study examples below. I'm also happy to answer any additional questions you may have. I hope my perspective brought some insight into solving your problem.

https://www.behance.net/gallery/77513271/-CASE-STUDY-Brand-Identity-for-CinemaxX

https://blind.com/case-study/case-study-tangoe/