STUDENT ASSISTANCE ACT 1973

Part 2 - ABSTUDY student start-up loans  

Division 4 - Indebtedness: working out accumulated ABSTUDY SSL debts  

SECTION 9C   STAGE 2 - WORKING OUT AN ACCUMULATED ABSTUDY SSL DEBT  

9C(1)  
A person ' s accumulated ABSTUDY SSL debt , for a financial year, is worked out as follows:


Former accumulated ABSTUDY SSL debt + ABSTUDY SSL debts incurred - ABSTUDY SSL debt repayments

where:

ABSTUDY SSL debt repayments
is the sum of all of the voluntary ABSTUDY SSL repayments (if any) paid, on or after 1 July in the financial year and before 1 June in that year, in reduction of the ABSTUDY SSL debts incurred in that year.

ABSTUDY SSL debts incurred
is the sum of the amounts of all of the SSL debts (if any) that the person incurred during the first 6 months of the financial year.

former accumulated ABSTUDY SSL debt
is the person ' s former accumulated ABSTUDY SSL debt in relation to that accumulated ABSTUDY SSL debt.

9C(2)  
The person incurs the accumulated ABSTUDY SSL debt on 1 June in the financial year.




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