Financial Aid & 529 Funds

Widening access for students of all economic means

Financial Assistance

Who is Eligible for Financial Assistance?

It’s simple: if the tuition price of a program on our website is beyond what your family can afford, you are eligible to apply for financial assistance! Interested students from all nationalities are eligible to apply. To make our programs more accessible to many types of families, Dragons offers two types of financial assistance: Sliding Scale Pricing and Scholarships. Learn more about these tuition levels on our Tuition Transparency page. 

The application process is the same for both Sliding Scale Pricing and Scholarships. Please follow the instructions below to apply. Applying for financial aid does not guarantee a space on a Dragons program.

Just Apply & Describe Your Financial Situation

When in doubt, just apply! Some students don’t apply for financial aid because they assume they won’t qualify or be selected. Take the chance and time to apply, regardless of your personal questions and concerns. If you feel strongly that Dragons is right for you, we want to hear from you. If you’re awesome and psyched about how we travel, let’s talk!

Great Wall of China

Financial Assistance Application Process

Assistance applications are reviewed on a rolling basis. Submit your request early so that we can consider it in our first round of reviews.

  • Step 1: Apply for a Program

    Fill out a standard online application. Please do not submit a program deposit (Sliding Scale applicants will be invited to submit a deposit if their application is approved. The $850 deposit is waived for all Scholarship applicants).

    Please be detailed when answering the short answer questions in the application. This is your chance to express why you are a great fit for Dragons! As with all Dragons students, we are looking for applicants who are curious and excited to engage with communities around the world, and who meet our Essential Eligibility Criteria.

Summer, Gap, IIP Application

Financial Aid Application

  • Step 3: Gather Supporting Financial Documents

    Acquire a copy of your parents’ most recent Federal tax returns or your FAFSA or SAR. Please be sure that your family income information is available on the document. While you are not required to submit your documents with your financial aid application, you must be able to provide them at Dragons request. 

  • Step 4: Dragons Confirmation and Interview Selection

    If our admissions team determines that we may be able to support your financial aid request, we will contact you to schedule an admissions interview.

    • If you have requested a tuition reduction of 20% or less, you will hear back from Dragons within five (5) business days. If we are able to offer you an award, you will be invited to submit your program deposit first; once your deposit is received, you will receive an interview invitation.
    • If you have requested a tuition reduction of more than 20%, it will take longer for Dragons to determine whether an award may be possible. You will not submit a program deposit.
  • Step 6: Final Review

    After an interview, our Review Committee will issue an admissions decision and financial assistance offer via email. You will also be notified by email if you are not accepted or an award cannot be granted.

Please Be Patient

It can take time for the Financial Aid Committee to make a decision as the enrollment and fund allocation process involves many moving variables. Feel free to check in on the status of your application by getting directly in touch.

Other Information

Can I Use My Federal Financial Aid To Pay for the Program?

Unfortunately, Dragons is not eligible for the federal school code required for the application of federal financial aid.

How Else Can I Support My Program?

If we are unable to accommodate your level of financial need, don’t give up. Students fund their experiences with Dragons in many ways. This could be a good reason to start your own fundraising campaign and research other ways to support your travels abroad. You can also consider external scholarships, private loans, or 529 educational savings funds. Some examples of external scholarships to check out include: 

Using 529 funds

What is a 529 Plan?

A 529 plan is a tax-advantaged education savings plan designed to help families set aside funds for future education expenses. The tax advantage can only be used for “qualifying education expenses.”

Is Dragons a “Qualifying Expense”?

It depends! Every 529 plan has different rules. Contact your plan administrator to find out how your plan defines a “qualifying expense” and their requirements for payment. As you do your research, keep the following in mind:

  1. On our side, Dragons is happy to accept 529 funds. However, it is up to YOU to make sure your plan considers Dragons a qualifying expense, to avoid tax penalties!
  2. Registering for college credit may allow you to pay for more of your Dragons program using your 529 plan. Please review our College Credit page to learn more about how to register.
  3. Some plans may allow funds to be transferred directly to Dragons, which is great! However, other plans may require payment to be made to the college credit School of Record. If this is the case for you and you are enrolled in a University of Montana (UM) course, UM and the Gap Year Association can help process your 529 payment. Contact us at [email protected] as soon as possible to begin this process.
  4. Students will NOT receive a tuition statement tax form (Form 1098-T) from Dragons, a School of Record (the University of Montana or Naropa University), nor the Gap Year Association. For tax purposes, in lieu of a Form 1098-T, students should maintain proof of tuition payment to Dragons and documentation of college course enrollment (if applicable) in the form of a student ID number and/or official transcripts.

Frequently Asked Questions