The disbursement of funds from US Federal Aid is done in the following way:
for first-year, first-time undergraduate borrowers, disbursement is made 30 days after classes start
for returning students and all postgraduates, disbursement is made 1 day after classes start.
Two equal payments are made, whether you register for 1 or 2 semesters.
Half of your loan will be disbursed when your classes start and the rest at the beginning of the second semester, ie, half of the subsidised portion, half of the unsubsidised portion plus half of the Plus loan, if applicable.
Federal holidays in the United States or public holidays in South Africa may cause a delay in disbursement.
Students have to maintain satisfactory academic progress (SAP) in order to receive further disbursements. For more information see the SAP policy.
Payment of tuition fees with the first disbursement is as follow:
100% of the first semester courses
50% of on-campus housing and meals, if applicable
50% of whole year courses
50% of the total faculty International fee (ITF) or 100% of the remaining cost if a FISB (faculty international student bursary) was granted
100% of the administrative fee of R3 750
50% of tuition and ITF plus R3 750 administrative fee if registering for 1 semester only
settlement of any other costs to be deferred.
Graduate School of Business (GSB) students must settle 60% of the fees even though only half of the loan is disbursed. This is not negotiable.
All outstanding fees must be paid with the second disbursement.
Any outstanding fees are due immediately upon cancellation of studies or if you have not obtained satisfactory academic progress.
To claim funds due to you for living expenses and off-campus accommodation:
Fill in a refund form (see Forms on that page) and forward to the International Academic Programme Office (IAPO) at least 2 days before the next processing day.
GSB students (MBA degree) must complete their refund form at the GSB office.
Refunds can only be transferred to a South African banking account which is loaded on PeopleSoft.
Refunds are only processed on a Monday, Wednesday and Friday. Should a public holiday fall on those days, the refund will be actioned only on the next processing day.
Withdrawal and leave of absence
Funds are disbursed at the start of each semester with the expectation that you will complete the semester. If you leave UCT (officially withdraw, unofficially withdraw or apply for a leave of absence) the funds are no longer needed for educational purposes. In which case:
you must inform the IAPO before leaving
a calculation is performed using the number of days you attended classes to determine the amount of funds earned
unearned funds must be returned to UCT immediately
if you withdraw or was granted leave of absence after having completed 60% of the period of enrolment, then you have earned the full amount of aid disbursed.