II 110th CONGRESS 1st Session S. 1066 IN THE SENATE OF THE UNITED STATES March 29, 2007 Mr. Dodd (for himself, Mr. Kerry, Mr. Durbin, and Mr. Feingold) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions A BILL To require the Secretary of Education to revise regulations regarding student loan repayment deferment with respect to borrowers who are in postgraduate medical or dental internship, residency, or fellowship programs.

1.

Short title

This Act may be cited as the Medical Education Affordability Act.

2.

Regulation revision required

(a)

Action required

Not later than 90 days after the date of enactment of this Act, the Secretary of Education shall revise the regulations of the Department of Education that are promulgated to carry out the provisions relating to student loan repayment deferment under the Federal Family Education Loan Program under part B of title IV of the Higher Education Act of 1965 (20 U.S.C. 1071 et seq.), the William D. Ford Federal Direct Loan Program under part D of title IV of such Act (20 U.S.C. 1087a et seq.), and the Federal Perkins Loan Program under part E of title IV of such Act (20 U.S.C. 1087aa et seq.), which are promulgated under sections 682.210, 685.204, and 674.34 of title 34, Code of Federal Regulations, to comply with the requirements of subsection (b). (b)

Requirements

The student loan repayment deferment regulations shall be revised to provide, with respect to a borrower who is in a postgraduate medical or dental internship, residency, or fellowship program, that if the borrower qualifies for student loan repayment deferment under the economic hardship provision— (1)the deferment shall be available for the length of the internship, residency, or fellowship program if the program— (A)must be successfully completed by the borrower before the borrower may begin professional practice or service; or (B)leads to a degree or certificate awarded by a health professional school, hospital, or health care facility that offers postgraduate training; and (2)the borrower shall not be required to apply annually for such student loan repayment deferment during the length of the program.