VET Student Loans Act 2016

Loans that the Secretary approves and uses to pay tuition fees for a person are repayable under this Part.

A person incurs a debt (called a VETSL debt) each time a loan amount is used to pay tuition fees for the person. Each of those debts is then incorporated into a single debt called the person ' s accumulated VETSL debt.

An accumulated VETSL debt can be repaid in 2 ways:

(a) by making voluntary repayments; or

(b) by making compulsory repayments (based on the person ' s income) through the income tax system.