Student Loan Forgiveness for Farmers and Ranchers Act This bill establishes a student loan forgiveness program for certain farmers or ranchers. Specifically, to receive loan forgiveness under this bill, a borrower must (1) make 120 monthly loan payments under a specified repayment plan while employed full-time at a qualified farm or ranch; and (2) fall within certain categories of individuals such as a beginner farmer or rancher, an individual underrepresented in the agricultural profession, or a veteran farmer or rancher.