1. Short title This Act may be cited as the Relief and Investment for Student Entrepreneurs Act or the RISE Act . 2. Deferment of Federal student loan payments for qualified entrepreneurs Section 455(f) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(f) ) is amended— (1) in paragraph (2)— (A) in subparagraph (C), by striking or at the end; (B) in subparagraph (D), by striking the period at the end and inserting ; or ; and (C) by adding at the end the following new subparagraph: (E) subject to paragraph (5), not in excess of 3 years during which the borrower is a qualified entrepreneur. ; and (2) by adding at the end the following new paragraph: (5) Deferment for qualified entrepreneurs (A) Definition of qualified entrepreneur For the purpose of this subsection, the term qualified entrepreneur means a borrower who— (i) received a degree from an institution of higher education during the 10-year period ending on the date on which deferment is granted under paragraph (2)(E); (ii) registered at least 1 business entity in a State during the 18-month period ending on such date; (iii) raised capital investment of not less than $30,000 for such business entity; and (iv) has an outstanding balance of principal and interest on loans made under this part of not less than $5,000. (B) Minimum employee requirement A borrower granted deferment under paragraph (2)(E) shall not be eligible to continue such deferment unless, on the date that is 1 year after date on which such deferment is granted, the borrower— (i) employs at the business entity described in subparagraph (A)(ii) not fewer than 2 full-time employees who are not the borrower or relatives of the borrower