(1) This section operates if an eligible student for a semester:
(a) has made an application under section 98D before the census date for the student's eligible post - graduate course of study for the semester, being the course specified in the application; and
(b) is enrolled in the eligible post - graduate course of study for the semester at the institution, as specified in the application; and
(c) has not, on or before the census date for the course of study for the semester, paid the full amount of the fees charged by the institution for so much of the course of study as is being undertaken by the student for the semester, leaving part of those fees outstanding.
(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.