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Medical Residents: Options Exist to Make Student Loan Payments Manageable

HRD-92-21 Published: Nov 26, 1991. Publicly Released: Nov 26, 1991.
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Highlights

Pursuant to a congressional request, GAO evaluated medical residents' ability to repay their educational debts.

Recommendations

Matter for Congressional Consideration

Matter Status Comments
Congress may wish to consider amending the Higher Education Act of 1965 to require that lenders grant medical residents' requests for complete forbearance of Stafford loan principal and interest payments. If enacted, medical residents would immediately have the option of obtaining complete forbearance.
Closed – Implemented
Section 428(b)(1)(V) of the Higher Education Act of 1965 was amended effective October 1, 1992, Public Law No. 102-325, to require lenders to offer complete forbearance to all borrowers, including medical residents.

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Topics

Debt collectionEducation or training costsLoan repaymentsMedical educationProposed legislationStudent financial aidStudent loansStudentsStudent loan repayment programPhysicians