STUDENT ASSISTANCE ACT 1973
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|
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.
The person incurs the accumulated ABSTUDY SSL debt on 1 June in the financial year.