72AWhen Secretary must re‑credit HELP balance

#### 72A When Secretary must re‑credit HELP balance (1) The Secretary must re‑credit a student’s HELP balance if: (a) the student has not completed the requirements for the course, or the part of the course, because the provider defaulted in relation to the student; and (b) the VSL Tuition Protection Director decides, under paragraph 66E(1)(b), that the Director is not satisfied that there is a suitable replacement course for the student. > Note: A course provider may be required to pay an amount to the Commonwealth as a result of re‑crediting under this section: see section 22\. That amount may be debited from the VSL Tuition Protection Fund: see section 66L. If the amount is debited from the Fund, a later payment of the amount by the provider is credited to the Fund: see section 66K. (2) Subject to subsection (2A), the amount re‑credited must equal the loan amount that has been used to pay tuition fees for the student for the affected part. (2A) If: (a) this section applies to re‑credit a student’s HELP balance in relation to a loan amount that has been used to pay tuition fees for the student for an affected part; and (b) on or before 1 June 2025, the person incurred a VETSL debt relating to the loan amount; then the amount to be re‑credited to the student’s HELP balance under this section is an amount equal to 80% of the loan amount. (3) In determining the amount to be re‑credited for the purposes of subsection (2) or (2A), the Secretary must take into account any submissions received by the VSL Tuition Protection Director under subsection 66H(3) in relation to the amount to be re‑credited. (4) The Secretary must give the student and the provider written notice of the Secretary’s decision in relation to the re‑credited amount. The notice must be given as soon as practicable after the decision is made.