REDI Act

Bill 119 s 942, also known as the Interest-Free Deferment for Medical and Dental Interns and Residents Act, aims to amend the Higher Education Act of 1965 to offer interest-free deferment on student loans for individuals serving in medical or dental internship or residency programs.

The bill specifically targets borrowers who are enrolled in these programs, providing them with the opportunity to temporarily postpone their student loan payments without accruing any interest. This deferment period allows these individuals to focus on their training and education without the added financial burden of loan repayment.

By offering interest-free deferment, the bill aims to support and incentivize individuals pursuing careers in the medical and dental fields, where internship and residency programs are often rigorous and time-consuming. This financial relief can help alleviate some of the stress and pressure associated with student loan debt, allowing these individuals to fully dedicate themselves to their training and professional development. Overall, Bill 119 s 942 seeks to provide much-needed support to medical and dental interns and residents, recognizing the importance of investing in the education and training of future healthcare professionals. This legislation aims to make higher education more accessible and affordable for individuals pursuing careers in these critical fields.