Document ID: chunk:federal_register_of_legislation:C2025C00168:section:23ba
Version: federal_register_of_legislation:C2025C00168
Segment Type: section
Provision Reference: s 23BA
Character Range: 38003–38874

23BA  VETSL debt
 (1) A person incurs a debt to the Commonwealth if the Secretary:
 (a) approves a VET student loan for the person; and
 (b) uses a loan amount covered by the VET student loan to pay tuition fees for the person for a course.
The debt is a VETSL debt.
 (2) The amount of the VETSL debt is:
 (a) 120% of the loan amount; or
 (b) if the rules specify a lesser percentage of the loan amount for the person—that lesser percentage of the loan amount.
Note: For specification by class, see subsection 13(3) of the Legislation Act 2003.
 (3) A VETSL debt is incurred on the day that the Secretary pays the loan amount.
 (4) A person's VETSL debt, in relation to a loan amount used to pay tuition fees for the person for a course, is taken to be remitted if the person's HELP balance is re‑credited under Division 2 or 3 of Part 6 in relation to the loan amount.