Dear Representatives Babin and Houlahan:
On behalf of our organizations, we thank you for reintroducing the “Resident Education Deferred Interest
(REDI) Act” (HR 4122) that, if passed, will allow borrowers to qualify for interest-free deferment on their
student loans while serving in a medical or dental internship or residency program.
As you are aware, the cost of graduate-level medical and dental education is substantial for the vast
majority of students. Further, those who undertake several years of residency with very low pay are often
unable to begin repaying student debt immediately. As a result, they qualify to have their payments halted
during residency through deferment or forbearance processes, but they continue to accrue interest that is
added to their balance.
Read full letter here
