WASHINGTON – Minnesota US Senator Tina Smith has reintroduced the Student Loan Forgiveness for Farmers and Ranchers Act to incentivize farmers to enter and stay in the agriculture industry.
The proposed legislation would create a loan forgiveness program for beginning farmers, ranchers, women, veterans, and minority farmers.
With the average farming age in the U.S. hitting 58 years old, Smith believes the act would reduce barriers for young farmers to take over as the current generation begins to retire.
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