Higher Education Legislation Amendment (2006 Budget and Other Measures) Act 2006 (121 of 2006)

Schedule 4   Rounding in calculation of HELP debts

Higher Education Support Act 2003

4   After subsection 140-25(1)

Insert:

(1A) For the purposes of the definition of HELP debts incurred in subsection (1), use the following method statement:

Step 1. Take the HELP debts (if any) that the person incurred during the first 6 months of the financial year. Group them according to whether the debts are in relation to:

(a) units undertaken with a *higher education provider that formed part of one particular *course of study with that provider; or

(b) units undertaken with a higher education provider that formed part of one particular course of study with another provider; or

(c) units that formed part of one particular *bridging course for overseas-trained professionals; or

(d) units access to which was provided by *Open Universities Australia; or

(e) *OS-HELP assistance, the entitlement to which relates to the person's enrolment in an *undergraduate course of study with one particular higher education provider (see paragraph 118-1(1)(c)).

Note: There will be more than one group of debts under paragraph (a) if the person incurred debts in relation to more than one course of study with a provider. Similarly, there could be more than one group of debts under paragraph (b), (c) or (e).

Step 2. Work out the total for each group of debts. If the total for a particular group is an amount consisting of a number of whole dollars and a number of cents, the total for that group is taken to be the number of whole dollars. If the total for a group is an amount of less than one dollar, the total for the group is taken to be zero.

Step 3. If there is more than one group of debts for the person, add together the totals for all of the groups.