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Easier Student Aid Access for Farm and Small Business Families.

This new law changes how student financial aid eligibility is calculated. The value of family farms where the family resides and small family-owned businesses (up to 100 employees) will no longer be counted as assets. This aims to make it easier for students from these backgrounds to qualify for federal education assistance.
Key points
Family farms and small family businesses will be excluded from asset calculations for student financial aid.
This change may increase eligibility for federal student aid for students from farming and small business families.
The new rules apply to award years beginning on or after the law's enactment date.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_469
Sponsor: Sen. Ernst, Joni [R-IA]
Process start date: 2025-02-06
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
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_S_469.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-02-06.

What are the main provisions?

Key points include:

  • Family farms and small family businesses will be excluded from asset calculations for student financial aid.
  • This change may increase eligibility for federal student aid for students from farming and small business families.
  • The new rules apply to award years beginning on or after the law's enactment date.
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 Sen. Ernst, Joni [R-IA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Education Family Agriculture