Higher Education Legislation Amendment (2006 Budget and Other Measures) Act 2006 (121 of 2006)

Schedule 2   FEE-HELP limit

Higher Education Support Act 2003

1   Subsection 104-15(1)

Repeal the subsection, substitute:

(1) A person's FEE-HELP balance at a particular time is:

(a) if the *FEE-HELP limit in relation to the person at the time exceeds the sum of all of the amounts of *FEE-HELP assistance that have previously been payable to the person, being that sum as reduced by any amounts previously re-credited under this Subdivision - that excess; and

(b) otherwise - zero.

Note: If an amount is to be re-credited to a FEE-HELP balance, the balance that is to be re-credited is worked out immediately before that re-crediting. The balance is worked out after the re-crediting by taking account of the amount re-credited. If a person's FEE-HELP limit has been reduced, the balance might not increase, or might not increase by the same amount as the amount re-credited.