US Federal Aid
General information: Withdrawing from UCT
You must immediately inform the US loan administrator at the International Office that you have withdrawn or cancelled your studies.
The UCT International Office must determine whether any or all of the Direct or Stafford loan funds need to be returned to the lender/guarantor or US DOE, before authorising any funds directly to the student. See Refund policy.
A student who withdraws, cancels or graduates from UCT must complete the exit counselling session before UCT determines if they are eligible for a refund. You have 30 days to complete the exit counselling.
Prorated refund calculations apply to all Stafford and Direct loan recipients who withdraw within 60% of the payment period. This may require the student to pay back money to the US government. If UCT is required to return funds based on the actions of the student, it will charge the student for all costs incurred.
If you cancel or withdraw before classes starts, any funds disbursed to you will have to be refunded/sent back, although you may be liable to pay UCT R2 500 cancellation fee plus any costs incurred.
