Higher Education Support Act 2003
Chapter 4
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Repayment of loans
PART 4-1
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INDEBTEDNESS
Division 140
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How are accumulated HELP debts worked out?
Subdivision 140-A
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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(e) (Repealed by No 55 of 2016)
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 .
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(e) (Repealed by No 55 of 2016)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
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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 .
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