VET Student Loans Act 2016
View history note
Hide history noteA person incurs a debt to the Commonwealth if the Secretary: (a) approves a VET student loan for the person; and (b) uses a loan amount covered by the VET student loan to pay tuition fees for the person for a course.
The debt is a VETSL debt .
23BA(2)
The amount of the VETSL debt is: (a) 120% of the loan amount; or (b) if the rules specify a lesser percentage of the loan amount for the person - that lesser percentage of the loan amount.
Note:
For specification by class, see subsection 13(3) of the Legislation Act 2003 .
23BA(3)
A VETSL debt is incurred on the relevant day.
23BA(3A)
For the purposes of subsection (3) , the relevant day is: (a) unless paragraph (b) applies - the day the Secretary pays the loan amount; or (b) if subsection (3B) applies to the loan amount - 1 June 2025.
23BA(3B)
This subsection applies to a loan amount if: (a) the loan amount should have been paid on or before 1 June 2025 but was paid after 1 June 2025 as a result of an administrative error; or (b) the loan amount:
(i) was paid during the period of 6 months beginning immediately after 1 June 2025; and
(ii) was used to pay tuition fees for a course, or a part of a course, for which the census day was on or before 1 June 2025.
23BA(4)
A person ' s VETSL debt, in relation to a loan amount used to pay tuition fees for the person for a course, is taken to be remitted if the person ' s HELP balance is re-credited under Division 2 or 3 of Part 6 in relation to the loan amount.
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