VET Student Loans Act 2016

There are 2 stages to working out a person ' s accumulated VETSL debt for a financial year.

In stage 1, the person ' s former accumulated VETSL debt is worked out. This is done by adjusting the preceding financial year ' s accumulated VETSL debt to take account of:

(a) changes in the Consumer Price Index; and

(b) the VETSL debts the person incurs during the last 6 months of the preceding financial year; and

(c) voluntary repayments of the debt; and

(d) compulsory VETSL repayment amounts in respect of the debt.

In stage 2, the person ' s accumulated VETSL debt is worked out from:

(a) the person ' s former accumulated VETSL debt; and

(b) the VETSL debts the person incurs during the first 6 months of the financial year; and

(c) voluntary repayments of those debts.