Text: H.R.1554 — 116th Congress (2019-2020)All Information (Except Text)

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Introduced in House (03/06/2019)


116th CONGRESS
1st Session
H. R. 1554


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 HOUSE OF REPRESENTATIVES

March 6, 2019

Mr. Babin (for himself, Mr. Harris, Mr. Posey, Mr. Gosar, and Mr. Stivers) introduced the following bill; which was referred to the Committee on Education and Labor


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 (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.”.