Help build congressional support for the “Resident Education Deferred Interest (REDI) Act” (S. 942/H.R. 2028)
On March 11, U.S. Senators Jacky Rosen (D-NV) and John Boozman, OD (R-AR) and U.S. Representatives Brian Babin, DDS (R-TX) and Chrissy Houlahan (D-PA) introduced the bipartisan REDI Act, which 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 know, the cost of graduate-level medical and dental education is substantial. While interns and residents may qualify to have their principal payments halted during their extended training, the interest on those loans continues to accrue and is added to the balance of the loan. The average medical resident has well over $200,000 in loan debt and can expect to pay upwards of $350,000 in repayments, due to the accruing interest.
The REDI Act would allow medical residents to pause repayment and interest accrual on their loans during a time when they are often unable to make payments on the loan principal.
This student loan repayment reform will help remove a major financial barrier for future physicians, as well as encourage specialization.
Please contact your U.S. Senators and Representative and urge them to co-sponsor the REDI Act.
By voicing your support and advocating for your members of Congress to co-sponsor the REDI Act, you will contribute to creating a more financially sustainable pathway for those who aspire to serve in these critical fields.
Help build congressional support for the “Resident Education Deferred Interest (REDI) Act” (S. 942/H.R. 2028)
On March 11, U.S. Senators Jacky Rosen (D-NV) and John Boozman, OD (R-AR) and U.S. Representatives Brian Babin, DDS (R-TX) and Chrissy Houlahan (D-PA) introduced the bipartisan REDI Act, which 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 know, the cost of graduate-level medical and dental education is substantial. While interns and residents may qualify to have their principal payments halted during their extended training, the interest on those loans continues to accrue and is added to the balance of the loan. The average medical resident has well over $200,000 in loan debt and can expect to pay upwards of $350,000 in repayments, due to the accruing interest.
The REDI Act would allow medical residents to pause repayment and interest accrual on their loans during a time when they are often unable to make payments on the loan principal.
This student loan repayment reform will help remove a major financial barrier for future physicians, as well as encourage specialization.
Please contact your U.S. Senators and Representative and urge them to co-sponsor the REDI Act.
By voicing your support and advocating for your members of Congress to co-sponsor the REDI Act, you will contribute to creating a more financially sustainable pathway for those who aspire to serve in these critical fields.