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

Schedule 1   Debt reduction

Part 1   Amendments

VET Student Loans Act 2016

68   After section 23BA

Insert:

23BAA Reduction in VETSL debts incurred between 1 January and 1 June 2025

(1) This section applies if, under section 23BA, a person incurs a VETSL debt during the period beginning on 1 January 2025 and ending on 1 June 2025.

Note: Certain VETSL debts are taken to have been incurred on 1 June 2025: see paragraph 23BA(3A)(b).

(2) For the purposes of this Act, and despite subsection 23BA(2), the amount of the VETSL debt is the amount worked out under that subsection reduced by 20%.