Student Assistance Act 1973

Part 2 - ABSTUDY student start-up loans  

View history reference
 View history note

Division 4 - Indebtedness: working out accumulated ABSTUDY SSL debts  

View history reference
 View history note

SECTION 9A   SIMPLIFIED OUTLINE OF THIS DIVISION  

View history reference

Each ABSTUDY SSL debt a person incurs is incorporated into the person ' s accumulated ABSTUDY SSL debt. This accumulated ABSTUDY SSL debt forms the basis for working out the amounts the person is obliged to repay.

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

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

  • (a) the HELP debt indexation factor for 1 June in that financial year; and
  • (b) the debts that the person incurs during the last 6 months of the preceding financial year; and
  • (c) voluntary ABSTUDY SSL repayments of the debt; and
  • (d) compulsory ABSTUDY SSL repayment amounts in respect of the debt.

    • In stage 2, the person ' s accumulated ABSTUDY SSL debt is worked out from:

  • (a) the person ' s former accumulated ABSTUDY SSL debt; and
  • (b) the ABSTUDY SSL debts that the person incurs during the first 6 months of the financial year; and
  • (c) voluntary ABSTUDY SSL repayments of those debts.

    •  View history note

     

    Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

    CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

    The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.