House of Representatives

Higher Education Support Amendment (FEE-HELP Loan Fee) Bill 2010

Explanatory Memorandum

Circulated By Authority of the Minister for Tertiary Education, Skills, Jobs and Workplace Relations

Financial impact

The estimated financial impact of the increase in the loan fee, based on a commencement date of 1 July 2010, as at the Mid Year Economic and Fiscal Outlook 2009-10, was $+42.9 million (fiscal balance) over the period 2010-11 to 2012-13.

The Bill provides for a commencement date of 1 January 2011. The adjustment to the cost of the measure for this commencement date is $-7.0 million (fiscal balance) over the period 2010-11 to 2013-14.

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