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VET Student Loans Act 2016
23AASimplified outline of this Part
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#### 23AA Simplified outline of this Part
Loans that the Secretary approves and uses to pay tuition fees for a person are repayable under this Part.
A person incurs a debt (called a VETSL debt) each time a loan amount is used to pay tuition fees for the person. Each of those debts is then incorporated into a single debt called the person’s accumulated VETSL debt.
An accumulated VETSL debt can be repaid in 2 ways:
(a) by making voluntary repayments; or
(b) by making compulsory repayments (based on the person’s income) through the income tax system.