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Student Aid Boost: Family Farms and Small Businesses Excluded from Asset Calculations.

New rules change how assets are assessed for student financial aid. The value of family farms where the family resides and small businesses with up to 100 employees will no longer be counted as student assets. This aims to make it easier for students from such families to access financial support for their education.
Key points
The value of family farms where the family resides will not be considered when assessing eligibility for student aid.
The value of small family-owned businesses with up to 100 employees will not be included in a student's assets for financial aid applications.
These changes are designed to improve access to financial aid for students from farming or small business families.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1131
Sponsor: Rep. Mann, Tracey [R-KS-1]
Process start date: 2025-02-07
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Family Farm and Small Business Exemption Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1131.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-02-07.

What are the main provisions?

Key points include:

  • The value of family farms where the family resides will not be considered when assessing eligibility for student aid.
  • The value of small family-owned businesses with up to 100 employees will not be included in a student's assets for financial aid applications.
  • These changes are designed to improve access to financial aid for students from farming or small business families.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Mann, Tracey [R-KS-1].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Education and Workforce.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Education Family Agriculture