Senator Chris Dodd (D-CT), along with Senators John Kerry (D-MA), Richard Durbin (D-IL), and Russ Feingold (D-WI) yesterday introduced the Medical Education Affordability Act (MEAA), a bill that would help make medical and dental school more affordable by extending the economic hardship student loan deferment to cover the entire length of a medical or dental residency for eligible students. The bill has been endorsed by the American Medical Student Association, the Association of American Medical Colleges, and the American Dental Education Association, along with several other organizations.
“As the cost of higher education tuition rises, far too many students are incurring significant and often unmanageable debt as they struggle to finance the long residencies required by medical and dental degree programs,” said Dodd. “This important legislation will help ensure that students are able to pursue a career in medicine without taking on debilitating debt.”
“Higher education should not be a luxury available only to the wealthy,” Senator Kerry said. “It’s a test of whether we really believe in opportunity or whether we just say we do. This commonsense legislation will open the door to many students and bring more qualified doctors and dentists into our communities. I'm proud to support this plan, and I thank Senator Dodd for reintroducing the bill.”
In 2006, the average medical student graduated with $130,000 in debt. Graduating dental students faced a debt of $145,465. MEAA would allow students who qualify under the Economic Hardship Deferment (EHD) to extend their student load deferment to cover the entire length of a medical or dental residency. By altering the definition, Senator Dodd’s bill removes a significant financial obstacle facing students with residency periods longer than the standard three years.
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