Do I have to apply for financial aid every year?

Yes. Financial situations change as well as the COA.

Can my loan funds be disbursement to my US bank Account?

No. The US DOE transferes the funds into the school`s bank account. UCT cannot transfer the funds to an overseas bank account.The funds will only be transfered into you UCT tuition fee acoount. In order to get money from your loan funds ,you have to sign a refund form,which is a release of funds from the fee account. The funds will then be transfered into your South African banking account.

Why can't I do my research work at home in the US?

Because your loan was awarded to enable you to pursue your studies outside of the US. This gives you the opportunity to be exposed to different countries and their cultures. The Department's OPE Policy Office has been very clear that there is no Federal Family Education Loan funding allowed for US students attending foreign schools who are doing research or study in the USA. As stated by OPE: "We have long cited the principle that foreign schools' participation in Title IV is based on the recognized benefit of US students' experiencing life and education in another country...".

Why do I have to complete a counselling session?

Schools are required to ensure that students complete entrance and exit interviews (entrance interviews prior to receiving proceeds from a federal student loan and exit interviews shortly before the student ceases attending the school at least half time). This is a federal regulation. The same regulation includes required content for counseling sessions and also recommends that schools administer a test to ensure students understand the loan and their rights and responsibilities.

Why am I not eligible for a Faculty International Student Bursary (FISB)?

FISB is considered as financial aid ,thus your loan has to be adjusted /reduced with the same amount of the waived amount. Your Loan is based on your COA minus EFC and any other financial aid. If you were approved a FISB, the same amount will be returned back to your lender.