Student Loan Forgiveness for Farmers and Ranchers Act This bill establishes a student loan forgiveness program for certain farmers or ranchers. Specifically, it requires the Department of Education to cancel the balance of interest and principal due on a borrower's Federal Direct Loans after such borrower makes 120 monthly loan payments under a specified repayment plan while employed full-time at a qualified farm or ranch.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Introduced in Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Education
Agricultural educationGovernment lending and loan guaranteesHigher educationMinority employmentStudent aid and college costsVeterans' education, employment, rehabilitationWomen's employment
Student Loan Forgiveness for Farmers and Ranchers Act
USA116th CongressS-2168| Senate
| Updated: 7/18/2019
Student Loan Forgiveness for Farmers and Ranchers Act This bill establishes a student loan forgiveness program for certain farmers or ranchers. Specifically, it requires the Department of Education to cancel the balance of interest and principal due on a borrower's Federal Direct Loans after such borrower makes 120 monthly loan payments under a specified repayment plan while employed full-time at a qualified farm or ranch.
Agricultural educationGovernment lending and loan guaranteesHigher educationMinority employmentStudent aid and college costsVeterans' education, employment, rehabilitationWomen's employment