1. Scholarships are sourced from both internal and external funds. An award from external funds is conditional, based on criteria set by the donor organization.

2. Scholarships are only provided to full-time undergraduate students.

3. Scholarships are provided for no more than eight semesters.

4. Recipients of scholarships must comply with the Code of Student Responsibilities, as well as with University academic codes. Any violation may result in the termination of the scholarship.

5. Scholarship will not be renewed if a student has an outstanding balance owed to the University. Therefore, students should pay promptly any outstanding balances before they apply for scholarship.

6. Students with more than two ‘X’ grades for their course work will be denied of scholarship.

7. Should the number of qualified applicants exceed the number of available scholarships then some applicants will not receive scholarship. The decision to award scholarships is made by the Financial Aid Committee. An appeal mechanism is available to students who disagree with the decision of the Committee.

8. The US dollar exchange rate used for financial calculations is set by the Financial Aid Committee based on official exchange rate of National Bank of KR.

9. Scholarships are awarded based on the data submitted by applicant. The Financial Aid Office has the right to perform an in depth check on the accuracy of the information supplied. AUCA reserves the right to re-check an applicant’s right to scholarship at anytime. Random audit visits may be made to an applicant’s home, parent’s home or the parent’s place of employment. Any student discovered to have falsified information will have their scholarship canceled and may be expelled from the University. AUCA also reserves the right to request additional supporting documentation as necessary.

10. The following subjective factors may influence the need-based evaluation:
  · Possession of an expensive vehicle and real estate 
  · Additional information about a student’s or family’s income from other validated sources

11. If a student who is awarded an internal scholarship takes an academic leave for an entire academic year, the scholarship is withdrawn and the student must reapply for financial aid the following academic year.

12. If a student who is awarded an internal scholarship takes an academic leave for one    semester, half the scholarship is retained and the other half is withdrawn.

Categories and Criteria to Receive Scholarship

First time applicants for scholarship must complete an application form; this form is available on-line via the Internet. The application form plus accompanying supporting documentation must be submitted to the Financial Aid Office by the application deadline (on application form). Application forms (and essays) can be sent to the office by e-mail (finaid@mail.auca.kg). Supporting documentation must be submitted within ten working days of applying on-line.

Scholarship is awarded on a need or merit basis. Students should fully understand the criteria for each type of scholarship. They сan apply for only one type of scholarship or award scheme, and they should indicate which type they are applying for on the application form.

The Financial Aid Office, in accordance with the “Financial Aid Procedures” and the “Financial Aid Regulations” reviews the application documents, conducts applicant interviews, may make an audit visit to the applicant’s home, determines the suitability of the applicant against the Scholarship selection criteria, and calculates the amount of the award.

All information pertaining to an application is kept confidential by the Financial Aid Office and forms part of the student’s file and is retained by the University.

The Financial Aid Committee approves the financial aid strategy, reviews the distribution of funds, conducts financial audits of 5 to 10% of all awards, and reviews exceptional cases and appeals.

Existing students already receiving scholarship need to sign annually an affidavit confirming that their or their family’s financial situation has not changed significantly to warrant a reassessment. This affidavit must be signed by the appropriate deadline for submitting documents.

If the financial status of a scholarship student changes significantly (at least 20%) the Financial Aid Office must be advised and the student must re-apply for scholarship and provide the necessary supporting documentation.

Financial Aid Appeals

• Students have the right to appeal the decision of the Financial Aid Office.
• The deadline for the submission of appeals is September 5.
• The Financial Aid Committee’s decision to adjust any scholarship amount will be confirmed by the signatures of at least three Committee members.
• Students will be informed about the decisions of Committee within five working days via e-mail.
• Students may only appeal once.
• The consideration of appeals ends on September 20.