How to Apply for Financial Aid

Overview

Our financial aid process includes the following steps:

  1. Reviewing your financial aid application and US tax documents
  2. Assessing your expected financial contribution toward the program fee
  3. Notifying you of your financial aid award based on available funds and your expected contribution

Things to know when applying for financial aid

  • You will need to submit the following: a copy of your most recent tax forms and, if applicable, the amount provided by any governmental assistance programs or other income.

     

    • Tax forms at minimum need to be Form 1040, 1040A, or 1040EZ and the following schedules if applicable to your family: Schedules A, C, F, D, E, form 4562.
    • Examples of governmental assistance or other income include Social Security; SSI payments; child support payments; unemployment compensation; welfare, TANF, or other public assistance; military assistance; untaxed disability, retirement, etc.
    • If you are not required to file a tax return because your income level falls below the IRS filing threshold, you must still complete the financial aid application. However, you can simply note on it that you are not required to file a federal tax return and submit copies of whatever documentation you have for the income you do receive. For instance, you could submit an annual Social Security award amount letter, SSN-1099, unemployment or disability income award letters, or public assistance qualification notification letters.
  • The financial aid application is available for submission year round and will be used for all programs through July. A new application will be available at the start of each school year. 
  • Upon review and assessment, you will be able to see the amount of aid your children are eligible for by program in your My TIP account.
  • A financial aid application needs to be submitted prior to or along with a program application to be eligible for aid in that program. Financial aid applications submitted after a program application will be used for future programs. 
  • Financial aid requests do not affect your admissions decision.
  • We recommend you apply as early as possible to maximize your chance of receiving aid.
  • We only offer financial aid to families who file taxes in the United States.
  • Families who send multiple students to TIP programs in a single year are eligible to receive financial aid for each individual student; however, we are not able to provide any additional financial assistance beyond those awards.
  • You must submit a new financial aid application each year, even if you were awarded aid previously, so we can ensure that the amount you qualify for has not changed.

Tax credits

Many families wonder if they qualify for the Child and Dependent Care tax credit when their child attends TIP. Unfortunately, the IRS has stated that the cost of sending a child to an overnight camp is not covered, so any residential TIP program is not eligible for this credit.

529 college plan funds

Please speak with your accountant before utilizing your 529 plan funds to pay for TIP programs. TIP does not believe the 529 college plan funds qualify for this usage because with this plan you are expected to be enrolled at the university and the payments are for tuition-related expenses. Duke TIP students are not enrolled in Duke University and are paying a program fee, not college tuition, so the required tuition payment statement (1098 T) required by the IRS cannot be produced by the university or Duke TIP.