Higher Education Support Act 2003
The HELP debt indexation factor for a person for 1 June in a financial year is the number (rounded to 3 decimal places):
(a) if the *Secretary has determined, under section 142-10 , that the indexation of the person ' s *accumulated HELP debt for the financial year is to be reduced - worked out using the formula in subsection (1A); and
(b) in any other case - worked out as follows: Method statement
The HELP debt indexation factor for 1 June in the financial year is the amount under step 1 divided by the amount under step 2.
For the purposes of paragraph (1)(a), the formula to work out the *HELP debt indexation factor for the person is:
means the number of days in the applicable calendar year determined for the person by the *Secretary under subsection 142-10(2) .
For the purposes of rounding a *HELP debt indexation factor, the third decimal place is rounded up if, apart from the rounding:
(a) the factor would have 4 or more decimal places; and
(b) the fourth decimal place would be a number greater than 4.