Higher Education Support Amendment (Extending FEE-HELP for VET Diploma, Advanced Diploma, Graduate Diploma and Graduate Certificate Courses) Act 2007 (170 of 2007)

Schedule 1   Higher Education Support Act 2003

12   After section 137-15

Insert:

137-18 VET FEE-HELP debts

Incurring VET FEE-HELP debts

(1) A person incurs a debt to the Commonwealth if, under clause 55 of Schedule 1A, the Commonwealth:

(a) makes a loan to the person; and

(b) uses the amount lent to make a payment in discharge of the person's liability to pay his or her *VET tuition fee for a *VET unit of study.

The debt is a VET FEE-HELP debt .

(2) The amount of the *VET FEE-HELP debt is the amount equal to 120% of the loan.

When VET FEE-HELP debts are incurred

(3) A *VET FEE-HELP debt is taken to have been incurred by a person immediately after the *census date for the unit, whether or not the Commonwealth has made a payment in respect of the person's *VET tuition fee for the unit.

Remission of VET FEE-HELP debts

(4) A person's *VET FEE-HELP debt in relation to a *VET unit of study is taken to be remitted if the person's *FEE-HELP balance is re-credited under clause 46, 47 or 51 of Schedule 1A in relation to the unit.

Note: The debt is taken to be remitted even if the person's FEE-HELP balance is not increased by an amount equal to the amount re-credited.