Universities Accord (Cutting Student Debt by 20 Per Cent) Act 2025 (30 of 2025)

Schedule 1   Debt reduction

Part 1   Amendments

Higher Education Support Act 2003

49   After clause 51 of Schedule 1A

Insert:

51AA Re-crediting a person's HELP balance in relation to VET FEE-HELP debts incurred on or before 1 June 2025

If:

(a) clause 46, 46A, 46AA, 47 or 51 applies to re-credit a person's *HELP balance in relation to the amounts of *VET FEE-HELP assistance that the person received for a *VET unit of study; and

(b) on or before 1 June 2025, the person incurred a *VET FEE-HELP debt relating to the VET unit of study;

then, despite anything in that clause, the amount to be re-credited to the person's HELP balance under that clause is an amount equal to 80% of the amounts of VET FEE-HELP assistance that the person received for the VET unit of study.