Senate bill would freeze interest on medical residents' federal loans during training
In committeeS. 942Latest action
Sponsor: Jacky Rosen · Senator · NV
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Official title: REDI Act
119th Congress
Topics: Education
Introduced:
Read the official bill on Congress.govIn plain words
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Senate bill S 942 would stop interest from accruing on federal student loans for medical and dental residents during deferment.
45-second read · 4 questions answered below
What does this do?
Senate bill S 942 would eliminate interest accrual on federal student loans during deferment periods for medical and dental residents and interns. Under current law, interest continues to build on deferred loans, increasing the total balance owed. This bill would keep the loan balance flat during the training period rather than allowing it to grow.
Who does it affect?
The bill applies to medical and dental residents and interns who hold federal student loans. It does not cover borrowers with private student loans or other graduate and professional borrowers.
Why does it matter?
Residency and internship programs typically last three to seven years, during which trainees earn modest salaries relative to their future income while carrying large loan balances from medical or dental school. Under current law, deferring payments during this lower-income period results in a larger loan balance by the time training ends.
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Read the official bill on Congress.govMake the call
Where does it stand?
- IntroducedMar 11, 2025
- Senate committeeYou are here · Mar 19, 2026
- Senate vote
- House
- The president's desk
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the president.
Latest action: — Committee on Health, Education, Labor, and Pensions. Hearings held.