Student Aid Boost: Excluding Family Farms and Small Businesses from Assets.
This bill changes how federal student financial aid (FAFSA) eligibility is calculated. The value of family farms and small businesses (up to 100 employees) will no longer be counted as family assets. This change aims to increase the eligibility for financial aid for students whose families own and operate these types of businesses, improving access to higher education.
Key points
The value of a family farm where the family resides will not be considered when assessing eligibility for federal student financial aid.
The value of a family-owned small business (up to 100 employees) is excluded from assets, potentially leading to more financial aid for education.
This adjustment provides financial relief to families who hold significant assets in business property but may struggle to afford college tuition.
Status:
Expired
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