Student Assistance Act 1973
9CAReduction in ABSTUDY SSL debts incurred before 1 January 2025
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9CA Reduction in ABSTUDY SSL debts incurred before 1 January 2025
(1) For the purposes of working out a person’s former accumulated ABSTUDY SSL debt in relation to the person’s accumulated ABSTUDY SSL debt for the financial year starting on 1 July 2024, section 9B has effect as if the method statement in subsection (1) of that section included the following step after step 6:
Step 7. Reduce the amount worked out under step 6 by 20%.
(2) For the purposes of working out a person’s accumulated ABSTUDY SSL debt for the financial year starting on 1 July 2024, section 9C has effect as if the formula in subsection (1) of that section were omitted and substituted with the following: Start formula Former accumulated ABSTUDY SSL debt plus open square bracket open round bracket ABSTUDY SSL debts incurred minus ABSTUDY SSL debt repayments close round bracket times 0.8 close square bracket end formula