(1) This section operates if a student:
(a) has made an application under section 98X for a BOTP loan before the census date for a BOTP course for a study period that began on or after 1 July 2002, being the course specified in the application; and
(b) meets the citizenship/residency requirements on the census date for that course for that study period; and
(c) is enrolled in the BOTP course on the census date for that course for that study period; and
(d) has not, on or before the census date for that course for that study period, paid the full amount of the fees charged by the institution concerned for so much of that course as is being undertaken by the student for that study period.
(2) The Commonwealth must, as a benefit to the student:
(a) lend to the student an amount equal to the amount of the fees outstanding immediately after the census date; and
(b) apply the amount so lent in making a payment to the institution in discharge of the student's liability to pay the amount of the fees outstanding.
(3) The Commonwealth may make advances to the institution on account of an amount that is expected to become payable by the Commonwealth to the institution under this section.