HR2028-119

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— in paragraph (1), in the matter preceding subparagraph (A), by striking A borrower and inserting Except as provided in paragraph (7), a borrower; in paragraph (2)(A)— in clause (i), by striking or after the semicolon; by striking the matter following clause (ii); in clause (ii), by striking the comma at the end and inserting ; or; and by adding at the end the following: is serving in a medical or dental internship or residency program; by adding at the end the following: 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. (iii)is serving in a medical or dental internship or residency program;; and (7)Special rule for certain in school defermentNotwithstanding 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..