Higher Education Support Legislation Amendment (Student Loan Sustainability) Act 2018 (76 of 2018)

Schedule 3   HELP loan limits etc.

Part 1   Amendments

Higher Education Support Act 2003

54   At the end of Chapter 3

Add:

Part 3-6 - HELP balances

128-7 What this Part is about

A person's HELP balanceat a particular time is worked out by reference to:

(a) the HELP loan limit in relation to the person at the time; and

(b) the amounts of HECS-HELP assistance, FEE-HELP assistance, VET FEE-HELP assistance and VET student loans that that have previously been payable to the person; and

(c) amounts previously re-credited to the person's HELP balance (including repayments of HELP debts).

128-15 HELP balances

(1) A person's HELP balance at a particular time is:

(a) if the *HELP loan limit in relation to the person at the time exceeds the sum of all of the amounts of:

(i) *HECS-HELP assistance that has previously been payable to the person; and

(ii) *FEE-HELP assistance that has previously been payable to the person; and

(iii) *VET FEE-HELP assistance that has previously been payable to the person; and

(iv) *VET student loans that have previously been payable to the person;

being that sum as reduced by any amounts previously re-credited to the person's HELP balanceunder Division 97 of this Act, Subdivision 104-B of this Act, section 128-25 of this Act, Subdivision 7-B of Schedule 1A to this Act or Part 6 of the VET Student Loans Act 2016 - that excess; and

(b) otherwise - zero.

Note 1: If an amount is to be re-credited to a HELP balance, the balance that is to be re-credited is worked out immediately before that re-crediting. The balance is worked out after the re-crediting by taking account of the amount re-credited. If a person's HELP loan limit has been reduced, the balance might not increase, or might not increase by the same amount as the amount re-credited.

Note 2: For transitional provisions relating to this section, see Part 2 of Schedule 3 to the Higher Education Support Legislation Amendment (Student Loan Sustainability) Act 2018. Those transitional provisions mean that subparagraph (1)(a)(i) does not apply in relation to a unit of study if the census date for the unit is before 1 January 2020.

(2) For the purposes of subparagraphs (1)(a)(i), (ii), (iii) and (iv), it is immaterial whether amounts of *HECS-HELP assistance, *FEE-HELP assistance, *VET FEE-HELP assistance and *VET student loans have been repaid.

(3) Subsection (2) is enacted for the avoidance of doubt.

128-20 HELP loan limit

The HELP loan limit is:

(a) the amount that would have been the FEE-HELP limit under repealed paragraph 104-20(a) on 1 January 2020 if it were assumed that section 104-20 had not been repealed, and section 198-5 had not been amended, by the Higher Education Support Legislation Amendment (Student Loan Sustainability) Act 2018; or

(b) in relation to a person who is enrolled in a *course of study in medicine, a *course of study in dentistry or a *course of study in veterinary science, while the person is enrolled in that course - the amount that would have been the FEE-HELP limit under repealed paragraph 104-20(b) on 1 January 2020 if it were assumed that section 104-20 had not been repealed, and section 198-5 had not been amended, by the Higher Education Support Legislation Amendment (Student Loan Sustainability) Act 2018.

Note: The HELP loan limit is indexed under Part 5-6.

128-25 Re-crediting HELP balance - discharge of HELP debt etc.

(1) If, during:

(a) the financial year starting on 1 July 2019; or

(b) a later financial year;

a payment was made in discharge of the whole or a part of a debt that a person owes to the Commonwealth under Chapter 4, the *Commissioner must:

(c) notify the payment to the Secretary; and

(d) do so as soon as practicable after the end of that financial year.

Note 1: The payment may be a voluntary repayment.

Note 2: The payment may be in the form of the application of an amount against the debt.

(2) If the Secretary is so notified, the Secretary must re-credit the person's *HELP balance with an amount equal to the amount of the payment.