1. Short title
This Act may be cited as the “Veterinary Education and Training Minimizes Educational Debt Act” or the “VET MED Act”.
Veterinary Education and Training Minimizes Educational Debt Act
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.
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—
in paragraph (1)(A)—
in clause (i), by striking “; or”; and
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”
in paragraph (2)—
in subparagraph (C), in the matter following clause (ii), by striking “or” after the semicolon;
in subparagraph (D), by striking the period and inserting “; or”; and
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.”