REDI Act

This legislation, titled the Resident Education Deferred Interest Act (REDI Act), proposes to amend the Higher Education Act of 1965. Its primary purpose is to offer significant financial relief to individuals pursuing medical or dental internship and residency programs by modifying existing student loan deferment policies. Specifically, the bill mandates that borrowers engaged in such programs will be eligible for a special deferment period . During this time, they will not be required to make periodic principal payments, and crucially, interest will not accrue on their federal student loans. This provision aims to alleviate the financial burden on these professionals during their demanding and often low-paying training years.