The Montana Department of Agriculture’s (MDA) Student Loan Assistance Program is now accepting applications. Established during the 2019 legislative session, this program provides student loan assistance to Montana’s college-educated youth pursuing careers in farming or ranching.
The program was developed to encourage Montana’s college-educated youth to pursue a primary career in farming or ranching; reduce financial stress on Montana’s farm and ranch operators; and promote succession planning to preserve interest in Montana’s agricultural future. Successful applicants may receive loan assistance for up to five years for qualified education loans.
A qualified farmer or rancher is eligible for student loan assistance for up to a maximum of five years. The total amount of loan repayment assistance may not exceed 50% of the total amount of educational loans outstanding. The minimum award amount under this program is $5,000 dispersed over a five-year period. The maximum lifetime award under this program is $25,000, or the applicant’s actual eligible student loan indebtedness at the time eligibility is established.
“The Student Loan Assistance Program seeks to relieve the financial stress facing our young producers so that they can focus their energies on raising some of the world’s highest quality commodities and carrying forward Montana’s agricultural traditions,” said MDA Director Christy Clark. “And when we can keep a family ranch in family hands, that is a success for Montana agriculture.”
Qualified farmers and ranchers are eligible for student loan assistance through the program for up to five years. Applicants must be a Montana resident designated as the primary owner, heir, successor or assignee of a farm or ranch in Montana that obtained their associated or baccalaureate degree(s) from a Montana college or university and have agreed to operate their farm or ranch for at least five years.
Applications are due June 3rd, 2024, and can be submitted through WebGrants. Full program guidelines are available on the department’s website at agr.mt.gov/Student-Loan-Assistance-Program.
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Montana Department of Agriculture
