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Student Loan Forgiveness for Young Farmers and Ranchers

This act aims to ease student loan burdens for individuals working on farms or ranches. It recognizes full-time farm work as public service, making these individuals eligible for federal student loan forgiveness. This support encourages young people to pursue careers in agriculture by reducing their financial obligations.
Key points
Full-time farm or ranch work will qualify for federal student loan forgiveness programs.
Eligible farms and ranches must have annual gross revenue from agricultural sales of at least $35,000 (adjusted for inflation annually).
The change intends to support young individuals entering or continuing in the agricultural sector.
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Additional Information
Young Farmer Success Act
Print number: HR 2728
Sponsor: Rep. Thompson, Glenn [R-PA-15]
Process start date: 2023-04-19