Document ID: chunk:federal_register_of_legislation:C2007A00170:clause:1_12
Version: federal_register_of_legislation:C2007A00170
Segment Type: clause
Provision Reference: sch 1 cl 12
Character Range: 9524–10672

12  After section 137‑15
Insert:

137‑18  VET FEE‑HELP debts

Incurring VET FEE‑HELP debts

 (1) 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.

 (2) The amount of the *VET FEE‑HELP debt is the amount equal to 120% of the loan.

When VET FEE‑HELP debts are incurred

 (3) 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

 (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 *FEE‑HELP balance is re‑credited under clause 46, 47 or 51 of Schedule 1A in relation to the unit.

Note: The debt is taken to be remitted even if the person's FEE‑HELP balance is not increased by an amount equal to the amount re‑credited.