Australian 2020 HELP Loan Scheme Legislative Changes
(Doc ID 2561872.1)
Last updated on DECEMBER 20, 2019
Applies to:PeopleSoft Enterprise CS Student Financials - Version 9 to 9.2 [Release 9]
Information in this document applies to any platform.
In January, 2020, legislated changes to the Australian HELP loan scheme need to be in place.
HECS HELP Loan amounts will combine with FEE HELP amounts forming the students combined HELP balance and usage. This means the HECS Reconciliation process will have to reference the students HELP Balance before deferral amounts are posted to their customer account. Currently only the FEE HELP Determination process references the loan balance.
Student must be able to defer their changes for HECS HELP, FEE HELP and SA HELP if they have provided the institution with a Tax File Number Certificate (proof they have applied for a TFN). New fields will be added to Campus Solutions as part of the 2020 government reporting project (TCSI) which is currently underway. These process will need to reference that new field.
The existing HELP loan scheme does not accommodate this requirement.
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