Higher Education Support Act 2003
The HELP debt indexation factor for a person for 1 June in a financial year is the number (rounded to 3 decimal places): (a) if the *Secretary has determined, under section 142-10 or 144-5 , that the indexation of the person ' s *accumulated HELP debt for the financial year is to be reduced - worked out using the formula in subsection (1A) ; and (b) in any other case - worked out as follows: Method statement
Step 1.
Add:
Step 2.
Add:
Step 3.
The HELP debt indexation factor for 1 June in the financial year is the amount under step 1 divided by the amount under step 2.
140-10(1A)
For the purposes of paragraph (1)(a) , the formula to work out the *HELP debt indexation factor for the person is:
![hesa_p_10](/law/view/sgif/cch-leg2/hesa_p_10_1104386817.gif)
where:
A
means the *HELP debt indexation factor for 1 June in the financial year worked out using the method statement in subsection
(1)
.
B
means the number of days in the applicable calendar year determined for the person by the *Secretary under subsection
142-10(2)
or
144-5(2)
.
140-10(2)
For the purposes of rounding a *HELP debt indexation factor, the third decimal place is rounded up if, apart from the rounding: (a) the factor would have 4 or more decimal places; and (b) the fourth decimal place would be a number greater than 4.
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