Document ID: chunk:federal_register_of_legislation:C2025C00125:section:41:p2
Version: federal_register_of_legislation:C2025C00125
Segment Type: section
Provision Reference: s 41 (pt 2/4)
Character Range: 94994–97663

has made the student payment on or before the census date in respect of the course in respect of that semester; and
 (c) has given to the appropriate officer of the institution a document in the approved form, signed by the student:
 (i) stating that the student asks the Commonwealth, if the student is undertaking the course as a contributing student on the census date for the course for a semester and has made a student payment for the course:
 (A) to lend to the student an amount (the formula amount) worked out using the following formula:

 (B) to apply the money lent in paying to the institution, in discharge of the student's liability to pay the remainder of the assessed contribution (see subsection (1B)), the amount of that assessed contribution outstanding after deducting from that assessed contribution the amount of the student payment; and
 (ii) stating that the student asks the Commonwealth if, having made one or more student payments in respect of the course, the student is undertaking the course in a later semester as a contributing student on the census date for the course without having made a student payment in respect of the course in that semester on or before the census date for the course for that semester:
 (A) to lend to the student an amount equal to the unpaid part of the assessed contribution; and
 (B) to apply the amount lent in discharge of the student's liability to pay the unpaid part of the assessed contribution; and
 (iii) acknowledging that, if the Commonwealth complies with a request, the student will be liable to make payments in accordance with Chapter 5A.
Example: If the student's assessed contribution for the course of study is $2,350 and the student makes a payment of $1,000, the amount that the Commonwealth will lend to the student is $1,017, ie:

 This amount is the formula amount (see sub‑subparagraph (1A)(c)(i)(A)).
 The amount that the Commonwealth will pay to the institution to discharge the student's liability is $1350, ie:

 The value to the student of the discount for making the student payment of $1,000 is $333 (this amount forms part of the amount the Commonwealth pays to the institution to discharge the student's liability), ie:

 (1B) For the purposes of subsection (1A):
assessed contribution, in relation to a course of study, means the contribution that an institution assesses will be payable by a student in respect of the course at the institution in respect of a semester, if the student is undertaking the course as a contributing student on the census date in respect of that course in respect of that semester.
student payment means an amount of $500 or more that