MP software is only going to work with M-Audio hardware, and older hardware at that(as like the ProFire2626, or FastTrack Pro). The FastTrack Pro is really a piece of junk, but the 2626 is a decent unit(and probably cheap on the used market). Disadvantage: these old boxes have old drivers that may be tough to find(and will not work with any newer OS) and the 2626 is firewire(which you may not have).
Next is the license; you have MP8 software, but do you have the iLok with the MP8 license? Without that, none of this is going to work at all.
Personally, if money is tight, I would try to update to a decent Windows 10 PC(a used HP EliteBook can be a great option), a new subscription to Pro Tools Artist($99/yr) and a new "budget" interface(maybe like the Behringer UMC202HD for $50-70 or Focusrite 212). I mention the HP because I have an Elitebook 8440P with i7, 8GB of RAM and a 500GB SSD that runs Pro Tools 12.5 quite well and it was under $200(I had to provide the OS and added the SSD). The only disadvantage is the smallish 14" screen, but it has VGA and displayport outputs to feed a bigger monitor
Food for thought
