Summary
Amends the:
Higher Education Support Act 2003
to: provide a new minimum repayment income of $44 999 for the compulsory repayment of Higher Education Loan Program (HELP) debts; replace the current repayment thresholds and introduce additional repayment thresholds; index HELP repayment thresholds to the consumer price index instead of average weekly earnings; and introduce, from 1 January 2019, a combined lifetime limit on the amount a student can borrow under HELP of $150 000 for students studying medicine, dentistry and veterinary science courses, and $104 440 for other students;
Social Security Act 1991
and
Student Assistance Act 1973
to align repayment thresholds for the Student Financial Supplement Scheme (SFSS) compulsory repayments with the HELP thresholds from the 2019-20 financial year;
Social Security Act 1991
,
Student Assistance Act 1973
and
Trade Support Loans Act 2014
to provide that, from the 2019-20 financial year, SFSS debts will be repaid after HELP debts are discharged rather than concurrently; and
VET Student Loans Act 2016
to make consequential amendments.