General information: Eligibility: Overview
Loan limits and Interest rates
Newsflash: Graduate students are no longer eligible for the Subsidized Direct Loan. Please check out the Recent changes made on Federal Student loans
Aggregate limits
| Subsidized | Unsubsidized | |
| Dependent UG | $23000 | $31000 |
| Independent UG | $23000 | $57500 |
| Graduate/Professional | $65500 | $138500 |
Program limits per academic period
| Dependent UG | Subsidized | Total sub & unsub |
| First Year | $3500 | $5500 |
| Second Year | $4500 | $6500 |
| Third year and beyond | $5500 | $7500 |
| Independent UG | Subsidized | Total sub & unsub |
| First Year | $3500 | $9500 |
| Second Year | $4500 | $10500 |
| Third year and beyond | $5500 | $12500 |
| Independent PG | Subsidized | Total |
| Graduate & Professional students | $8500 (no longer available to loan periods from 1 July 2012) | $20500 |
Eligible programmes of study
The Direct Loan is available to eligible students undertaking the following programmes of study:
Programmes that are not eligible for federal aid
Student eligibility and assessment
Your eligibility for US financial aid will be assessed based on the information you provided on the UCT application form.
We strongly recommend that you carefully create a budget prior to departure to enable you to plan for your financial security during your studies at our university. We also recommend you have access to at least six weeks worth of non-loan funds on hand in case there is a delay in your loan money being received at the beginning of your academic period.Funds cannot be disbursed prior to the start of the 2nd semester ,under any circumstances. Have sufficient funds available while waiting for the 2nd disbursement to come through.
Funding for researchwork only registrations, are available to only PhD students. Masters students are only eligible for funding for their researchwork/dissertation ,when they `ve completed their coursework at the same institution.
The amount you are eligible for is determined by your:
No disbursement of funds will be done without a Satisfactory Academic Progress report from your Faculty or Faculty Supervisor.
It is important that the U.S. loan administrator at IAPO is informed when you submit your researchwork or thesis as this is considered as the day you completed your studies. Under U.S. regulations ,the completion date is considered as your graduation date and not when you officially graduate at the university. Your repayments start 6 months after your date of completion.
NB: With reference to a U.S. student enrolled in a Master's program. A student would not be eligible to receive federal student aid when studying or conducting research in the U.S., unless the student is conducting research during the dissertation phase of a doctoral program. 34 C.F.R. 600.52 states that a foreign institution does not permit students to enroll in any course in the United States, including research, work, internship, externship, or special studies within the United States, except that independent research done by an individual student in the United States for not more than one academic year is permitted, if it is conducted during the dissertation phase of a doctoral program under the guidance of faculty, and the research can only be performed in a facility in the United States.
Students who want to do research work in their home country will lose their eligibility for US Federal Aid. You may still continue with your research work but with your own personal funds.
All loan amounts certified by IAPO are based on individual eligibility.