Late payment charge and interest under the Student Assistance Act 1973 107-05100020

Existing cases of penalty interest can only be:

• ceased
• adjusted, or
• reduced

Go to the Debt List (OPDL) screen:

• 'S'elect the debt to which charges and interest have been applied
• go to the Student Penalties (OPSP) screen

Note: use the OPSP screen to cease or adjust penalty interest or late payment charges for student assistance debts. This screen also records the 'notice sent date' for Student Assistance Recovery System (STARS) converted debts. The OPSP screen will be protected if.

• the debt is undetermined or finalised
• a write off is in place
• the customer displayed in header is not the primary debtor
• an activity containing provisional updates to the debt is on the Activity List (AL) screen
• the debt id has not been input, or
• the source project code is not STARS conversion

Code these fields using field help '?' for acceptable values:

• Late Payment Charge $. This is the dollar amount of the late payment charge calculated for a student assistance debt. The late payment amount was a maximum of $100
• Last Updated. This is the date on which a late payment charge amount is updated
• Penalty Interest Start Date. This is the date penalty interest started accruing. Update this field if an amount is adjusted in the Penalty Interest field
• Penalty Interest End Date. This is the date penalty interest ceased accruing. Update this field if an amount is adjusted in the Penalty Interest field
• Penalty Interest Last Updated. This is the date penalty interest details are updated. Update this field if penalty interest period and amount fields are updated
• Penalty Interest Amount $. This is the total amount of the Penalty Interest. Update this field if the penalty interest start and end dates are adjusted
• Debt Notice Sent Date. This is the date of issue of the debt notice. This field is blank if a notice of debt was not issued. Use the comment line to record details of manual advices sent. Once updated this field becomes protected
• Comment. This is the free text comment referring to updates on the OPSP screen.
  Key comments if these fields are updated:
• Penalty Interest
• Late Payment Charge $, or
• Debt Notice Sent Date

Go to the Assessment Finalisation (OPAF) screen.

Record all details on a DOC.