119-HR2028

Bill is currently in: House
Path to Law
House Senate President

119th CONGRESS

1st Session

H. R. 2028

1. Short title
2. Deferment during a medical or dental internship or residency program

1. Short title

This Act may be cited as the "Resident Education Deferred Interest Act" or the "REDI Act".

2. Deferment during a medical or dental internship or residency program

Section 455(f) of the Higher Education Act of 1965 (20 U.S.C. 1087e(f)) is amended—

(1) - in paragraph (1), in the matter preceding subparagraph (A), by striking "A borrower" and inserting "Except as provided in paragraph (7), a borrower";

(2) - in paragraph (2)(A)—

(A) - in clause (i), by striking "or" after the semicolon;

(B) - by striking the matter following clause (ii);

(C) - in clause (ii), by striking the comma at the end and inserting "; or"; and

(D) - by adding at the end the following:

(iii) - is serving in a medical or dental internship or residency program;

(3) Special rule for certain in school deferment - by adding at the end the following:

(7) Special rule for certain in school deferment - Notwithstanding any other provision of this Act, a borrower described in paragraph (2)(A)(iii) shall be eligible for a deferment, during which periodic installments of principal need not be paid and interest shall not accrue on any loan made to the borrower under this part.