VET Student Loans Act 2016
PART 6
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RE-CREDITING HELP BALANCES
Division 3
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Re-crediting by Secretary other than on discharge of debt
SECTION 72A
WHEN SECRETARY MUST RE-CREDIT HELP BALANCE
72A(1)
The Secretary must re-credit a student ' s HELP balance if: (a) the student has not completed the requirements for the course, or the part of the course, because the provider defaulted in relation to the student; and (b) the VSL Tuition Protection Director decides, under paragraph 66E(1)(b) , that the Director is not satisfied that there is a suitable replacement course for the student.
72A(2)
Subject to subsection (2A) , the amount re-credited must equal the loan amount that has been used to pay tuition fees for the student for the affected part.
72A(2A)
If: (a) this section applies to re-credit a student ' s HELP balance in relation to a loan amount that has been used to pay tuition fees for the student for an affected part; and (b) on or before 1 June 2025, the person incurred a VETSL debt relating to the loan amount;
72A(3)
In determining the amount to be re-credited for the purposes of subsection (2) or (2A) , the Secretary must take into account any submissions received by the VSL Tuition Protection Director under subsection 66H(3) in relation to the amount to be re-credited.
72A(4)
The Secretary must give the student and the provider written notice of the Secretary ' s decision in relation to the re-credited amount. The notice must be given as soon as practicable after the decision is made.
View history note
Hide history noteThe Secretary must re-credit a student ' s HELP balance if: (a) the student has not completed the requirements for the course, or the part of the course, because the provider defaulted in relation to the student; and (b) the VSL Tuition Protection Director decides, under paragraph 66E(1)(b) , that the Director is not satisfied that there is a suitable replacement course for the student.
Note:
A course provider may be required to pay an amount to the Commonwealth as a result of re-crediting under this section: see section 22 . That amount may be debited from the VSL Tuition Protection Fund: see section 66L . If the amount is debited from the Fund, a later payment of the amount by the provider is credited to the Fund: see section 66K .
72A(2)
Subject to subsection (2A) , the amount re-credited must equal the loan amount that has been used to pay tuition fees for the student for the affected part.
72A(2A)
If: (a) this section applies to re-credit a student ' s HELP balance in relation to a loan amount that has been used to pay tuition fees for the student for an affected part; and (b) on or before 1 June 2025, the person incurred a VETSL debt relating to the loan amount;
then the amount to be re-credited to the student ' s HELP balance under this section is an amount equal to 80% of the loan amount.
72A(3)
In determining the amount to be re-credited for the purposes of subsection (2) or (2A) , the Secretary must take into account any submissions received by the VSL Tuition Protection Director under subsection 66H(3) in relation to the amount to be re-credited.
72A(4)
The Secretary must give the student and the provider written notice of the Secretary ' s decision in relation to the re-credited amount. The notice must be given as soon as practicable after the decision is made.
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