KIVA AND DEFERRED PAYMENT

Starting from 2012 academic year need based financial aid will include deferred payment. Admits 2012 are awarded $250 per year of deferred payment which should be paid back within four years after graduation of undergraduate or graduate studies. The sum of the Deferred Payment shall be paid back in national currency at the rate of the National Bank of the Kyrgyz Republic on the day of the return.

Starting from 2013 year deferred payment as part of the financial aid is in the amount $ 275 (two hundred and seventy five U.S. dollars) per academic year ("Kiva") which shall be paid by the Student within two (2) years from the date of graduation of undergraduate or graduate studies. The sum of the Kiva shall be paid back in national currency at the rate of the National Bank of the Kyrgyz Republic on the day of the return. The amount and the payment period may be changed by the AUCA unilaterally.

The amount of the deferred payment can be changed by the administration every academic year for new admits.

Students are not eligible to receive deferred payment if they are recipients of:

1. orphan’s award;
2. disabilities’ award (I and II group);
3. staff children discount;
4. siblings’ award;
5. financial aid in the form of:

a) merit based scholarships

b) donors’ scholarship

c) Other similar exemptions pursuant to the regulations of the University.

If a student leaves or is excused from AUCA or is to be transferred to another University:

a. The student is responsible for repayment of Kiva totaling 275 $ for 2 semesters (1 academic year) or 137.50 $/semester. Accordingly, the sum of the repayment depends on the student’s course, i.e., if the student has completed 2 courses than he/she is to return 550$ for 4 semesters, if 3 courses than 825$ for 6 semesters.

b. Students must repay the whole incurred deferred payment before their any AUCA document will be released.

Students can decide to decline the Kiva. In this case student’s financial aid is decreased and net tuition is increased exactly to the amount of Kiva.