Universities Accord (Cutting Student Debt by 20 Per Cent) Act 2025 (30 of 2025)

Schedule 2 Fairer repayment system

Insert:

applicable repayable amount means the amount that is the least of the following:

(a) the amount worked out under subsection 154-20(2) of the Higher Education Support Act 2003 for the income year, as if:

(i) references in that subsection to the person's repayment income were references to the person's HELP repayment income; and

(ii) references in that subsection to the person's minimum repayment income were references to the person's minimum HELP repayment income;

(b) the amount equal to 10% of the person's HELP repayment income for the income year;