S. 942 — REDI Act

This section expands eligibility for in-school deferment on Federal Direct Loans to include borrowers serving in a medical or dental internship or residency program. It further establishes a special rule providing that no interest shall accrue, and no principal payments are required, on such loans during that deferment (i.e., effectively subsidizing interest for graduate/professional borrowers, who have been ineligible for subsidized Direct Stafford Loans since July 1, 2012).