Student Assistance Act 1973
Part 2
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ABSTUDY student start-up loans
Division 4
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Indebtedness: working out accumulated ABSTUDY SSL debts
SECTION 9CA
REDUCTION IN ABSTUDY SSL DEBTS INCURRED BEFORE 1 JANUARY 2025
9CA(1)
For the purposes of working out a person ' s former accumulated ABSTUDY SSL debt in relation to the person ' s accumulated ABSTUDY SSL debt for the financial year starting on 1 July 2024, section 9B has effect as if the method statement in subsection (1) of that section included the following step after step 6:
Step 7.
9CA(2)
For the purposes of working out a person ' s accumulated ABSTUDY SSL debt for the financial year starting on 1 July 2024, section 9C has effect as if the formula in subsection (1) of that section were omitted and substituted with the following:
View history note
Hide history noteFor the purposes of working out a person ' s former accumulated ABSTUDY SSL debt in relation to the person ' s accumulated ABSTUDY SSL debt for the financial year starting on 1 July 2024, section 9B has effect as if the method statement in subsection (1) of that section included the following step after step 6:
Step 7.
Reduce the amount worked out under step 6 by 20%.
9CA(2)
For the purposes of working out a person ' s accumulated ABSTUDY SSL debt for the financial year starting on 1 July 2024, section 9C has effect as if the formula in subsection (1) of that section were omitted and substituted with the following:
| Former accumulated ABSTUDY SSL debt + [(ABSTUDY SSL debts incurred − ABSTUDY SSL debt repayments) × 0.8] |