[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 704 Introduced in Senate (IS)]

<DOC>






118th CONGRESS
  1st Session
                                 S. 704

To amend the Higher Education Act of 1965 to provide for interest-free 
deferment on student loans for borrowers serving in a medical or dental 
                    internship or residency program.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 8, 2023

Ms. Rosen (for herself and Mr. Boozman) introduced the following bill; 
     which was read twice and referred to the Committee on Health, 
                     Education, Labor, and Pensions

_______________________________________________________________________

                                 A BILL


 
To amend the Higher Education Act of 1965 to provide for interest-free 
deferment on student loans for borrowers serving in a medical or dental 
                    internship or residency program.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

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

SEC. 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 (6), 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;''; and
            (3) by adding at the end the following:
            ``(6) 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.''.
                                 <all>