- The Honorable Bernard Sanders
Chair
Senate Committee on Health, Education, Labor and Pensions
428 Senate Dirksen Office Building
Washington, D.C. 20510 - The Honorable Bill Cassidy, MD
Ranking Member
Senate Committee on Health, Education, Labor and Pensions
428 Senate Dirksen Office Building
Washington, D.C. 20510
Dear Chairman Sanders and Ranking Member Cassidy:
On behalf of our organizations, we call on Congress to address high student loan debt levels facing many borrowers, including physicians and dentists. With the Biden Administration expected to reinstate federal student loan payments and interest this summer that were halted at the start of the COVID-19 pandemic more than three years ago, the need for long-term legislative solutions is essential to ensure current borrowers are not overwhelmed with insurmountable student debt levels as well as to attract a strong future pipeline of physicians and dentists.
One solution that we strongly urge the HELP Committee to consider is the “Resident Education Deferred Interest (REDI) Act” (S 704). This bipartisan and bicameral legislation would 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 must 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.
Click here to read the full Neurosurgery Urges Senate Committee to Address Student Loan Debt.
