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

84   After subsection 73A(2) (before the note)

Insert:

Reduction in certain VETSL debts etc.

(3) If an amount is reduced from:

(a) a person's VETSL debt because of the operation of section 23BAA; or

(b) a person's accumulated VETSL debt or former accumulated VETSL debt because of the operation of section 23CCA;

the Commissioner must notify the amount reduced to the Secretary as soon as practicable.

(4) If the Secretary is so notified, the Secretary must re-credit the person's HELP balance with an amount equal to the amount reduced.