US Federal Aid
Who can apply for U.S. Federal Aid?
Students who are American citizens or eligible non-citizens of the USA. The general requirement for eligible non-citizens is that they be in the United States for other than a temporary purpose with the intention of becoming a citizen or lawful permanent resident, as evidenced by the U.S. citizenship & immigration services in the Dept of Homeland Security.
US Federal Direct loan
UCT is certified to only participate in the William D Ford Direct Loan Program (Direct Loan).This program offers the Direct Subsidized Federal Loan, Direct Unsubsidized Federal Loan, Direct Parent Plus Loan and the Direct Graduate Plus Loan. In order for UCT to determine if you are eligible for a Direct Loan, please submit all the requested information outlined below.
IAPO will clear you for funds at pre-registration, provided your loan has been confirmed. You therefore do not have to make a payment prior to registration. Please be advised that as a foreign school, we cannot offer the same turnaround time as US domestic schools when disbursing funds to you. After the funds has been released in the US, the process takes at least 4 - 5 weeks before funds can be disbursed to your South African banking account.
Steps to take (1 - 4 to be completed)
Step one (applicable to all new and existing UCT borrowers that have not completed the entrance counselling under studentloans.gov)
Complete the Direct loan entrance counselling and /or Grad Plus loan entrance counselling online. Parents cannot complete the counselling sessions for their children.
Step two (to be submitted for each academic year)
Complete the 2013-2014 Free Application for Federal Student Aid (FAFSA) online. The UCT school code is G10084 or 010084.After submitting your application online, your application goes directly to the Central Processing System where your SAR (Student Aid Report) will be generated. UCT will print your SAR when it becomes available.
MPN Completion – A student or parent must complete a Direct Loan Master Promissory Note (MPN) for each academic year that he or she receives a Direct Loan for attendance at our school. This applies even if the student or parent has previously signed an MPN to receive FFEL Program loans or Direct Loan Program loans at other schools. There are two types of MPNs – one for students who will receive Direct Subsidized Loans and/or Direct Unsubsidized Loans and the other for graduate/professional students and parents who will receive Direct PLUS Loans. The MPN is the legal document through which the student or parent promises to repay his or her D/L and any accrued interest and fees to the Department. It also explains the terms and conditions of the loan. Students & or parents complete the Direct Loan MPN electronically via StudentLoans.gov web site.
Print and complete the IAPO US Federal Aid Application form(see top right hand side, under Download) and fax or scan it to the International office.The details can be found on the form. For an estimate of how much it will cost to study at UCT ,refer to the COA for more information.
Step five (for school only)
UCT will determine the loan amount for which you are eligible. UCT will then notify you of the loan type and loan amount awarded via email.
Step six (for school only)
UCT will originate/certify your loan via the US Department of Education Web tool.
US loan funds cannot be disbursed, if the student has not registered for classes. Please refer to disbursement of funds for more information.
The University will not disburse the second payout of funds without a Satisfactory Academic Progress report.