Explanatory MemorandumCirculated By Authority of the Minister for Tertiary Education, Skills, Jobs and Workplace Relations
Schedule 1 - Amendments
Higher Education Support Act 2003
Item 1 - Paragraph 137-10(2)(a)
Item 1 increases the amount of the FEE-HELP debt which is incurred under paragraph 137-10(2)(a) from 120% to 125%.
Subsection 137-10(2) provides that the amount of a FEE-HELP debt is:
- if the loan relates to FEE-HELP assistance for a unit of study that forms part of an undergraduate course of study - an amount equal to 120% of the loan; or
- if, paragraph (a) does not apply - the amount of the loan.
This amendment will increase the FEE-HELP debt for those people to whom paragraph 137-10(2)(a) applies.
Item 2 - Application
Item 2 contains an application provision which provides that the increase in the FEE-HELP debts in Item 1 will apply to FEE-HELP debts incurred on or after 1 January 2011 in relation to units of study whose census dates are on or after 1 January 2011.