Higher Education Support Act 2003

Chapter 4 - Repayment of loans  

PART 4-1 - INDEBTEDNESS  

Division 140 - How are accumulated HELP debts worked out?  

Subdivision 140-B - Former accumulated HELP debts  

SECTION 140-10   HELP debt indexation factor  

140-10(1)  
The HELP debt indexation factor for 1 June in a financial year is the number (rounded to 3 decimal places) worked out as follows: Method statement


Step 1.

Add:

  • (a) the *index number for the *quarter ending on 31 March in that financial year; and
  • (b) the index numbers for the 3 quarters that immediately preceded that quarter.

  • Step 2.

    Add:

  • (a) the *index number for the *quarter ending on 31 March in the immediately preceding financial year; and
  • (b) the index numbers for the 3 quarters that immediately preceded that quarter.

  • Step 3.

    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.

    140-10(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.




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