Higher Education Support Act 2003
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 . 137-18(2)
The amount of the *VET FEE-HELP debt is:
(a) 120% of the loan; or
(b) if the *VET Guidelines specify a lesser percentage of the loan for the person - that lesser percentage of the loan.
For specification by class, see subsection 13(3) of the Legislation Act 2003 .
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 137-18(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 *HELP balance is re-credited under clause 46 , 46A , 46AA , 47 or 51 of Schedule 1A in relation to the unit.
The debt is taken to be remitted even if the person ' s HELP balance is not increased by an amount equal to the amount re-credited.
A person ' s *VET FEE-HELP debt in relation to a *VET unit of study is taken to be remitted to the extent that the person ' s *HELP balance is re-credited under clause 46B of Schedule 1A in relation to the unit.
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