VET MED Act

Veterinary Education and Training Minimizes Educational Debt Act or the VET MED Act

This bill allows veterinary students who are enrolled in postgraduate training programs or serving in internships or residencies to defer payment on their Federal Direct Loans for up to five years. Loan interest shall not accrue during such deferment.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6134 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 6134

To amend the Higher Education Act of 1965 to provide for interest-free 
   deferment on student loans for borrowers serving in a veterinary 
                    internship or residency program.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 9, 2020

Mr. Schrader (for himself and Mr. Yoho) introduced the following bill; 
       which was referred to the Committee on Education and Labor

_______________________________________________________________________

                                 A BILL


 
To amend the Higher Education Act of 1965 to provide for interest-free 
   deferment on student loans for borrowers serving in a veterinary 
                    internship or residency program.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Veterinary Education and Training 
Minimizes Educational Debt Act'' or the ``VET MED Act''.

SEC. 2. DEFERMENT DURING A VETERINARY INTERNSHIP OR RESIDENCY PROGRAM.

    Section 455(f) of the Higher Education Act of 1965 (20 U.S.C. 
1087e(f)) is amended--
            (1) in paragraph (1)(A)--
                    (A) in clause (i), by striking ``; or''; and
                    (B) by adding at the end the following new clause:
                            ``(iii) any loan made under this part to a 
                        borrower who meets the requirements described 
                        in subparagraph (E) of paragraph (2); or''; and
            (2) in paragraph (2)--
                    (A) in subparagraph (C), in the matter following 
                clause (ii), by striking ``or'' after the semicolon;
                    (B) in subparagraph (D), by striking the period and 
                inserting ``; or''; and
                    (C) by adding at the end the following new 
                subparagraph:
                    ``(E) not in excess of 5 years, during which the 
                borrower is--
                            ``(i) enrolled in a post-graduate training 
                        program for veterinarians designed to develop 
                        advanced levels of veterinary competency; or
                            ``(ii) serving in a veterinary internship 
                        or residency, as such terms are defined by the 
                        American Veterinary Medical Association.''.
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