Eligibility

Refund and Return of Title IV

Pro rata refund calculations apply to all US loan recipients who are registered with UCT and withdrew within 60% of the academic period.

If UCT is required to pay money, on your behalf, back to the US Department of Education as a result of your early withdrawal, you will be required to repay that money to UCT as well as immediately settle any outstanding fees.

Unearned Direct loan funds - Return of Title IV funds (R2T4)

For students who earned or have been awarded US federal aid before withdrawing from the university and are eligible for a refund, a determination, by using a specific formula, must be made as to whether any of the refund money must be returned to the US Federal Aid programme.

All funds must be returned within 45 days of the date of the student's withdrawal. If a student was awarded less funding than the amount earned, the student may be able to receive those additional funds. If a student received more funds than was earned, the excess funds must be returned by the student or UCT.

The amount of funds earned is determined on a pro-rata basis. When 60% of the period of enrolment has been completed, all the funds that the student was scheduled to receive for that period are considered to be earned. When the total earned amount as of the withdrawal date is more than the amount that was disbursed to the student, the difference between the two amounts will be treated as a post-withdrawal disbursement. A post-withdrawal disbursement must be offered to students. However, students may choose to decline the additional funds due, so that additional debt is not incurred.

If  the unearned funds must be returned, the distribution of funds will be as follows:

  • Unsubsidized Direct loan
  • Subsidized Direct loan
  • Direct PLUS loan

The requirement for the returning of federal aid when a student withdraws is separate from any refund policy that UCT may have. Therefore the student may still owe funds to the school to cover unpaid institutional charges. UCT may also attempt to collect from the student any US federal aid funds that the school is required to return.

The student may be liable for an immediate settlement of any outstanding fees with UCT, when US federal aid funds have been returned to the US Department of Education.

Cancellation of registration

The ACA08 cancellation of registration form must be completed.

The date of submission of this form to the faculty office is taken as the date of cancellation. Failure to do so will make you liable for full fees. Retrospective cancellations will not be processed, nor will cancellations be back-dated.

A course fee reduction is dependent upon the date of withdrawal.

If notice is received before:

  1. Whole year courses starting in February
    14 February 2020: 100% adjustment
    17 July 2020: 50% adjustment

  2. First semester courses starting in February
    14 February 2020: 100% adjustment
    28 February 2020: 50% adjustment

  3. Second semester courses starting in July
    17 July 2020: 100% adjustment
    31 July 2020: 50% adjustment

A reduction in the International Term Fee (ITF) may be considered in special circumstances, depending on the date of cancellation:

  1. If registration is cancelled:
    before 10 February 2020: 100% adjustment
    before 13 July 2020: 50% adjustment

  2. Students registering in the second semester who cancel/withdraw:
    before 13 July 2020: 100% adjustment
    after 13 July 2020: No adjustment

The R4 000 international administrative fee is non-refundable.

Leave of absence

UCT Senate may grant a student leave of absence for a specified period but UCT's Leave of Absence (LOA) does not meet the criteria for an "Approved Leave of Absence" under the US regulations. Your enrolment status will therefore change to withdrawn, effective from the date you begin the LOA  and this may have implications for repayment obligations. US federal aid may have to be returned and any outstanding fees immediately settled by the student.

A student who is granted an LOA will be entitled to a fee rebate depending on the date and period for which the LOA is granted. This could reduce the outstanding fee amount.

If an LOA is granted before the following dates the adjustments are shown below:

  1. Whole year courses starting in February
    14 February 2020: 100% adjustment
    03 April 2020: 75% adjustment
    17 July 2020: 50% adjustment
    04 September 2020: 25% adjustment

  2. First semester courses starting in February
    14 February 2020: 100% adjustment
    03 April 2020: 50% adjustment

  3. Second semester courses starting in July
    17 July 2020: 100% adjustment
    04 September 2020: 50% adjustment

Refunds

Students must apply for a refund at the International Office. A refund form is completed.

The form is sent to the Fees Office for authorization and the payment of the credit balance is processed to the student.

What must I do to draw the credit balance on my fees account?

You must enter and maintain your banking details on the student system via the Student Self-Service portal. If your banking details are correct, complete and return the refund form to the International Office.

 

 

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