# Plain Language Summary of the REDI Act

This bill makes it easier for doctors and dentists in training to manage their student loan debt during their internship and residency years. Right now, medical and dental residents have to keep making student loan payments while they're earning relatively low salaries during their training. This bill would allow them to pause their loan payments interest-free during this period, meaning the loan balance wouldn't grow while they're in their residency program.

The practical impact is straightforward: young doctors and dentists would get temporary relief from student loan payments during some of the most financially challenging years of their careers. Medical and dental residencies typically last three to seven years, and residents often earn modest salaries compared to practicing physicians and dentists. By allowing interest-free deferment during this time, the bill helps these professionals avoid accumulating thousands of dollars in additional debt while they complete their training. Once they finish their residency and start earning full physician or dentist salaries, they would resume regular loan payments, but their loan balance would be the same as when they started the residency rather than having grown with accrued interest.

This change only affects federal student loans made under specific federal loan programs, and it only applies to people actively enrolled in accredited medical or dental internship and residency programs. It doesn't change anything for other borrowers or other types of loans, and it doesn't forgive any debt—it simply pauses the accrual of interest during a specific period of training.

REDI Act

Babin, Brian

Resident Education Deferred Interest Act or the REDI Act This bill allows borrowers in medical or dental internships or residency programs to defer student loan payments until the completion of their programs.