Advocating for You: Assisting the next generation of physician anesthesiologists
Why This Matters
As the future of the specialty, residents are on the front-lines of health care, often while experiencing exorbitant amounts of student debt.
ASA urges Congress to provide student loan relief for residents and medical students that recognizes their role in providing care to patients.
What You Should Know
The cost of graduate-level medical education is substantial for physicians in training. Physicians in residency receive very low compensation and are often unable to begin repaying student loan debt immediately. These residents can qualify to have their payments halted during residency through deferment or forbearance processes. However, the loans continue to accrue interest that accumulates to the overall loan balance.
What ASA is Doing For You
Reps. Brian Babin, D.D.S. (R-TX-36) and Chrissy Houlahan (D-PA-6) introduced H.R. 1202, the "Resident Education Deferred Interest" (REDI) Act. A Senate version of the bill has not yet been introduced this Congress. The bill would allow borrowers to qualify for interest-free deferment on their student loans while serving in a medical or dental internship or residency program.
ASA advocated for this legislation at the 2019 Legislative Conference, garnering a total of 89 co-sponsors.