REDI Act

Bill: 115-hr-5734
Sponsor: full_name: Rep. Babin, Brian [R-TX-36]
Introduced: 2018-05-09
Policy area: Education
Subjects: Dental care

Government lending and loan guarantees

Health personnel

Interest, dividends, interest rates

Medical education

Student aid and college costs
Latest action: action_date: 2018-05-09
text: Referred to the House Committee on Education and the Workforce.

Summaries:
action_date: 2018-05-09
action_desc: Introduced in House
text: <p><b>Resident Education Deferred Interest Act or the REDI Act</b></p> <p>This bill makes student loan borrowers eligible for interest-free deferment on loans under the William D. Ford Federal Direct Loan Program if the borrowers are serving in medical or dental internships or residency programs.</p>

tv_txt: I 115th CONGRESS 2d Session H. R. 5734 IN THE HOUSE OF REPRESENTATIVES May 9, 2018 Mr. Babin introduced the following bill; which was referred to the Committee on Education and the Workforce 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.

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 (5), a borrower ; (2) in paragraph (2)(A)— (A) by striking the matter following clause (ii); (B) in clause (ii), by striking the comma at the end and inserting ; or ; and (C) 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: (5) 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 deferent, 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. .