Bill
Education and Other Legislation Amendment (VET Student Loan Debt Separation) Bill 2018
passed, as at 2018-09-25. Education and Training portfolio.
- Sponsor
- Not recorded
- Portfolio
- Education and Training
Recorded stages
- introduced — 2018-03-28
- second reading — 2018-03-28
- second reading — 2018-08-22
- second reading — 2018-08-22
- committee — 2018-08-22
- third reading — 2018-08-22
- introduced — 2018-09-10
- second reading — 2018-09-10
- second reading — 2018-09-13
- second reading — 2018-09-13
- third reading — 2018-09-13
- passed — 2018-09-13
- royal assent — 2018-09-25
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2018-03-28.
This bill separates VET student loan debts from other Higher Education Loan Program (HELP) debts and makes them a separate income-contingent loan under the VET Student Loans Act 2016.
It moves the legal basis for these debts from the Higher Education Support Act 2003 into the VET Student Loans Act, with new repayment rules modelled on existing HELP provisions.
Debts incurred before 1 July 2019 remain under the old system, while those from that date onward are managed under the new Act.
- Creates a separate category of VET student loan debts called VETSL debts, administered under the VET Student Loans Act.
- Requires repayment of VETSL debts to start only after all HELP debts are repaid.
- Applies the same repayment thresholds, rates, and indexation as for HELP debts.
- Requires overseas residents with VETSL debts to pay a levy to the Commonwealth.
Students with VET student loans and the Department of Education and Training.
Sources
em
em supp
em supp
em revised
billhome
frl act