Student Loan Forgiveness for Farmers and Ranchers Act

Senate Bill 5296 - Student Loan Forgiveness for Farmers and Ranchers Act: Overview, Status, and Impact

Hozzl · 2024-03-13T03:54:43Z

Explore the details of Senate Bill 5296 Student Loan Forgiveness for Farmers and Ranchers Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Education. Stay informed on legislative developments.

3/13/2024, 3:54 AM

Congressional Summary of S 5296

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.

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Current Status of Bill S 5296

Bill S 5296 is currently in the status of Bill Introduced since December 19, 2022. Bill S 5296 was introduced during Congress 117 and was introduced to the Senate on December 19, 2022. Bill S 5296's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of December 19, 2022