Each ABSTUDY SSL debt a person incurs is incorporated into the person's accumulated ABSTUDY SSL debt. This accumulated ABSTUDY SSL debt forms the basis for working out the amounts the person is obliged to repay.

There are 2 stages to working out a person's accumulated ABSTUDY SSL debt for a financial year.

In stage 1, the person's former accumulated ABSTUDY SSL debt is worked out by adjusting the preceding financial year's accumulated ABSTUDY SSL debt to take account of:

  (a)   the HELP debt indexation factor for 1   June in that financial year; and

  (b)   the debts that the person incurs during the last 6 months of the preceding financial year; and

  (c)   voluntary ABSTUDY SSL repayments of the debt; and

  (d)   compulsory ABSTUDY SSL repayment amounts in respect of the debt.

In stage 2, the person's accumulated ABSTUDY SSL debt is worked out from:

  (a)   the person's former accumulated ABSTUDY SSL debt; and

  (b)   the ABSTUDY SSL debts that the person incurs during the first 6 months of the financial year; and

  (c)   voluntary ABSTUDY SSL repayments of those debts.