Student Assistance Act 1973

Part 2 - ABSTUDY student start-up loans  

Division 4 - Indebtedness: working out accumulated ABSTUDY SSL debts  

SECTION 9A   SIMPLIFIED OUTLINE OF THIS DIVISION  


Each ABSTUDY SSL debt a person incurs is incorporated into the person ' s accumulated ABSTUDY SSL debt. This accumulated ABSTUDY SSL debt forms the basis for working out the amounts the person is obliged to repay.

There are 2 stages to working out a person ' s accumulated ABSTUDY SSL debt for a financial year.

In stage 1, the person ' s former accumulated ABSTUDY SSL debt is worked out by adjusting the preceding financial year ' s accumulated ABSTUDY SSL debt to take account of:

  • (a) the HELP debt indexation factor for 1 June in that financial year; and
  • (b) the debts that the person incurs during the last 6 months of the preceding financial year; and
  • (c) voluntary ABSTUDY SSL repayments of the debt; and
  • (d) compulsory ABSTUDY SSL repayment amounts in respect of the debt.
  • In stage 2, the person ' s accumulated ABSTUDY SSL debt is worked out from:

  • (a) the person ' s former accumulated ABSTUDY SSL debt; and
  • (b) the ABSTUDY SSL debts that the person incurs during the first 6 months of the financial year; and
  • (c) voluntary ABSTUDY SSL repayments of those debts.



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