Student Assistance Act 1973
9CStage 2—working out an accumulated ABSTUDY SSL debt
Start here
Get a plain-English read of 9C
Turn the raw legal text into a practical explanation grounded in Student Assistance Act 1973.
9C Stage 2—working out an accumulated ABSTUDY SSL debt
(1) A person’s accumulated ABSTUDY SSL debt, for a financial year, is worked out as follows: Start formula Former accumulated ABSTUDY SSL debt plus ABSTUDY SSL debts incurred minus ABSTUDY SSL debt repayments end formula where:
ABSTUDY SSL debt repayments is the sum of all of the voluntary ABSTUDY SSL repayments (if any) paid, on or after 1 July in the financial year and before 1 June in that year, in reduction of the ABSTUDY SSL debts incurred in that year.
ABSTUDY SSL debts incurred is the sum of the amounts of all of the SSL debts (if any) that the person incurred during the first 6 months of the financial year.
former accumulated ABSTUDY SSL debt is the person’s former accumulated ABSTUDY SSL debt in relation to that accumulated ABSTUDY SSL debt.
Note: The formula in this subsection is modified for the purposes of working out a person’s accumulated ABSTUDY SSL debt for the financial year starting on 1 July 2024: see section 9CA.
(2) The person incurs the accumulated ABSTUDY SSL debt on 1 June in the financial year.