Higher Education Support Act 2003

Chapter 4 - Repayment of loans  

PART 4-1 - INDEBTEDNESS  

Division 140 - How are accumulated HELP debts worked out?  

Subdivision 140-A - Outline of this Division  

SECTION 140-1   Outline of this Division  

140-1(1)  
There are 2 stages to working out a person ' s *accumulated HELP debt for a financial year. Stage 1 - Former accumulated HELP debt

140-1(2)  
The *former accumulated HELP debt is worked out by adjusting the preceding financial year ' s *accumulated HELP debt to take account of:

(a) changes in the Consumer Price Index; and

(b) the *HELP debts that he or she incurs during the last 6 months of the preceding financial year; and

(c) *voluntary repayments of the debt; and

(d) *compulsory repayment amounts in respect of the debt.

(e) (Repealed by No 55 of 2016)

(See Subdivision 140-B .)

Stage 2 - Accumulated HELP debt

140-1(3)  
The person ' s *accumulated HELP debt is worked out from:

(a) his or her *former accumulated HELP debt; and

(b) the *(HELP debts that he or she incurs during the first 6 months of the financial year; and

(c) *voluntary repayments of those debts; and

(d) reductions of those debts under section 142-15 .

(See Subdivision 140-C .)

Note:

Incurring that financial year ' s accumulated HELP debt discharges the previous accumulated HELP debt and HELP debts under this Part: see section 140-35 .