Bill > S942

This bill, known as the Resident Education Deferred Interest Act (REDI Act), amends the Higher Education Act of 1965 to provide a special deferment option for medical and dental professionals during their internship or residency programs. Specifically, the bill allows borrowers who are serving in a medical or dental internship or residency to receive a unique type of student loan deferment where they are not required to make principal payments, and importantly, no interest will accrue on their loans during this period. This provision recognizes the financial challenges faced by medical and dental professionals during their early career training years, offering them temporary relief from student loan burdens while they complete their professional training programs. By preventing interest from accumulating during these critical training years, the bill aims to provide financial breathing room for emerging healthcare professionals who are typically working long hours for modest compensation during their internship and residency periods.

Health and Social Services

https://www.congress.gov/bill/119th-congress/senate-bill/942/all-info