Document ID: chunk:federal_register_of_legislation:C2019C00328:clause:3_54:p1
Version: federal_register_of_legislation:C2019C00328
Segment Type: clause
Provision Reference: sch 3 cl 54 (pt 1/2)
Character Range: 35578–38338

54  At the end of Chapter 3
Add:

Part 3‑6—HELP balances

128‑7  What this Part is about

      A person's HELP balance at a particular time is worked out by reference to:
             (a) the HELP loan limit in relation to the person at the time; and
             (b) the amounts of HECS‑HELP assistance, FEE‑HELP assistance, VET FEE‑HELP assistance and VET student loans that that have previously been payable to the person; and
             (c) amounts previously re‑credited to the person's HELP balance (including repayments of HELP debts).

128‑15  HELP balances
 (1) A person's HELP balance at a particular time is:
 (a) if the *HELP loan limit in relation to the person at the time exceeds the sum of all of the amounts of:
 (i) *HECS‑HELP assistance that has previously been payable to the person; and
 (ii) *FEE‑HELP assistance that has previously been payable to the person; and
 (iii) *VET FEE‑HELP assistance that has previously been payable to the person; and
 (iv) *VET student loans that have previously been payable to the person;
  being that sum as reduced by any amounts previously re‑credited to the person's HELP balance under Division 97 of this Act, Subdivision 104‑B of this Act, section 128‑25 of this Act, Subdivision 7‑B of Schedule 1A to this Act or Part 6 of the VET Student Loans Act 2016—that excess; and
 (b) otherwise—zero.
Note 1: If an amount is to be re‑credited to a HELP balance, the balance that is to be re‑credited is worked out immediately before that re‑crediting. The balance is worked out after the re‑crediting by taking account of the amount re‑credited. If a person's HELP loan limit has been reduced, the balance might not increase, or might not increase by the same amount as the amount re‑credited.
Note 2: For transitional provisions relating to this section, see Part 2 of Schedule 3 to the Higher Education Support Legislation Amendment (Student Loan Sustainability) Act 2018. Those transitional provisions mean that subparagraph (1)(a)(i) does not apply in relation to a unit of study if the census date for the unit is before 1 January 2020.
 (2) For the purposes of subparagraphs (1)(a)(i), (ii), (iii) and (iv), it is immaterial whether amounts of *HECS‑HELP assistance, *FEE‑HELP assistance, *VET FEE‑HELP assistance and *VET student loans have been repaid.
 (3) Subsection (2) is enacted for the avoidance of doubt.

128‑20  HELP loan limit
  The HELP loan limit is:
 (a) the amount that would have been the FEE‑HELP limit under repealed paragraph 104‑20(a) on 1 January 2020 if it were assumed that section 104‑20 had not been repealed, and section 198‑5 had not been amended, by the Higher Education Support Legislation Amendment (Student Loan Sustainability) Act 2018; or
 (b) in relation to a