Document ID: chunk:federal_register_of_legislation:C2020A00093:clause:4a_7:p2
Version: federal_register_of_legislation:C2020A00093
Segment Type: clause
Provision Reference: sch 4A cl 7 (pt 2/3)
Character Range: 74544–76988

and (4).

Payment of loan amount
 (3) The Commonwealth must:
 (a) as a benefit to the student, lend to the student an amount equal to the difference between the amount of *HECS‑HELP assistance for the relevant unit and the *HECS‑HELP discount for the relevant unit; and
 (b) pay to the provider the amount lent in discharge of that amount of the student's liability to pay the student's *student contribution amount for the relevant unit.

Payment of discount amount
 (4) The Commonwealth must, as a benefit to the student, pay to the provider an amount equal to the *HECS‑HELP discount for the relevant unit in discharge of that amount of the student's liability to pay the student's *student contribution amount for the relevant unit.

HECS‑HELP discount
 (5) The HECS‑HELP discount for a unit of study is an amount equal to one‑ninth of the *up‑front payment, or the sum of all of the up‑front payments made, in relation to the unit.
Example: Robert is required to pay a student contribution amount for a unit of study of $2,745 by 31 January 2021, and makes an up‑front payment in relation to the unit of $900 on 20 January 2021.
 Robert is entitled to HECS‑HELP assistance for the unit of $1,845 ($2,745 minus $900), which the Commonwealth must pay to the higher education provider.
 The up‑front payment in relation to the unit exceeded $500 so there is a HECS‑HELP discount of $100 (one‑ninth of $900). The Commonwealth lends to Robert the remainder of the HECS‑HELP assistance in relation to the unit, an amount of $1,745 ($1,845 minus $100).

96‑3  Payments to higher education providers—full up‑front payment of student contribution amount
  If:
 (a) a student is entitled to an amount of *HECS‑HELP assistance for a unit of study in which the student is enrolled with a higher education provider; and
 (b) one or more *up‑front payments have been made in relation the unit; and
 (c) the amount of that up‑front payment, or the sum of those up‑front payments, is equal to 90% of the student's *student contribution amount for the unit;
the Commonwealth must, as a benefit to the student, pay to the provider the amount of HECS‑HELP assistance for the unit in discharge of that amount of the student's liability to pay the student's student contribution amount for the unit.
Note: The student does not incur a HECS‑HELP debt in relation to the amount of HECS‑HELP assistance paid by the Commonwealth to the provider under this section.