Reference to consolidated loan balance

2012 amendment to the annual administration fee provision for student loans to replace the term 'loan balance' with 'consolidated loan balance'.

Section 189(1)

An amendment has been made to the annual administration fee provision to correct a drafting error by replacing "loan balance" with the term "consolidated loan balance" as the intent of the annual administration fee policy was that the fee applies to borrowers whose consolidated loan balance was $20 or more.

Application date

The amendment applies from 1 April 2012.