US Federal Aid
Return of Title IV funds
Pro-rated refund calculations apply to all US loan recipients who are a registered student of 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 Title IV funds
For students who earned or has been awarded US federal aid before withdrawing from the university and are eligible for a refund of fees paid for that period of enrolment, 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 program. All funds must be returned within 45 days of the date when UCT determined the student withdrew. 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. For graduate/professional students, once 60% of the period of enrollment has been completed, all the funds that the student was scheduled to receive for that period is considered to be earned and the student is due a post-withdrawal disbursement. The graduate student may choose to decline the additional funds due, so that additional debt is not incurred.
If it is determined that unearned funds must be returned, the distribution of the funds will be as follows:
- Direct Unsubsidized
- Direct Subsidized
- Direct Plus
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 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: Form ACA08 (cancellation of registration form to 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 render 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:
Whole year courses
17 Feb 2012: 100% refundable less the R400 minimum charge
02 March 2012: 50% refundableFirst semester courses
17 Feb 2012: 100% refundable less the R400 minimum charge
02 March 2012: 50% refundable- Second semester courses
27 July 2012: 100% refundable less the R400 minimum charge
12 Aug 2012: 50% refundable
No reduction of course fees will be granted if the notice of intention to discontinue studies is received after the above deadlines.
A reduction on the International Term Fee (ITF), less a minimum fee of R2500 may be considered in special circumstances, depending on the date of cancellation.
If registration is cancelled before:
- 13 Feb 2012: 100% refundable less R2500 minimum ITF
- 31 July 2012: 50% refundable
No reduction of ITF will be granted if the notice of intention to discontinue studies is received after the 31 July 2011.
Leave of absence
The University Senate may grant leave of absence to a student for a specified period. Leave of absence is however a status in which the student is considered to be continuously enrolled for the purpose of US federal aid. An application for leave of absence must be put in writing to the Dean of the faculty concerned. If approved, the student must return by the agreed date or the enrolment status will change to withdrawal, effective from the date the student began the LOA which may have implications for grace and/or repayment obligations. If a leave of absence application is not submitted or approved, and the student ceases academic-related activity for a consistent period of time, this may be treated as an unofficial withdrawal from the university for US federal aid purposes and will be reported to your loan servicer(s). US federal aid may have to be returned and any outstanding fees immediately settled by the student. Grounds for LOA can be found in Book 3 (General rules and Policies).
Generally only one LOA may be granted to a student in a 12 month period. However, more than one LOA may be granted due to limited, well documented unforeseen circumstances determined under the US federal aid regulations.
