Interest-Free Residency Loan Deferment

Summary#

The REDI Act would amend the Higher Education Act to let borrowers in medical or dental internships or residency programs defer student loan payments. During the deferment, borrowers would not have to pay principal, and interest would not accrue on loans made under the relevant part of the Act.

What it means for you#

If you have a qualifying federal student loan and serve in a medical or dental internship or residency program, this bill would allow you to pause principal payments without interest accruing during the deferment. The bill is in progress and has been referred to the House Committee on Education and Workforce; it is not law.

Expenses#

The bill does not specify costs or funding.

Proponents' View#

No publicly available information.

Opponents' View#

No publicly available information.