The Direct loan is a fixed-rate student loan made to undergraduate and graduate students attending our university as a full time registered student. The US Department of Education is your lender.

Interest rates and loan fees are available from  the Federal Student Aid website.

To be eligible:

  • You must be a US citizen or national, a US permanent resident, or eligible non-citizen.

  • You are not completing research work in the United States (Master's and PhD students).

Types of loans

Subsidised Direct loan

Only offered to dependant undergraduate students, subsidised Direct loans are need-based, and interest does not accrue on these loans while you are studying, during the 6-month grace period and during a deferment period.

Unsubsidised Direct loan

Unsubsidised Direct loans are not need-based. You are responsible for all the interest that accrues on the loan, including while you are studying.

Graduate and Parent PLUS loan

The federally sponsored Parent PLUS loan is a low-interest student loan for parents of undergraduate, dependant students.

Independent students doing a postgraduate degree can apply for the Graduate Plus loan:

  • With a PLUS loan, you may borrow up to the full cost of attendance, less other financial aid received including Federal Direct loans.
  • A credit check is required.
  • You are responsible for all interest that accrues on the PLUS loan.
  • Repayment on PLUS loans begins once the loan is fully disbursed. However, the loan can be deferred while you are studying.

Other types of funding

Private Loans

Unable to administer Private Loan funding such as the Sallie Mae educational loan or Nelnet

Veterans Affairs Benefits funding

UCT has withdrawn from the Post 9/11 GI Bill programme and therefore cannot certify enrolment for VA funding

AmeriCorp funding

Unable to administer and certify enrolment for AmeriCorp funding