Student Loan Forgiveness for Farmers and Ranchers Act
Sponsored By: Senator Murphy, Christopher [D-CT]
Introduced
Summary
A new loan-forgiveness program for farmers and ranchers would cancel the remaining principal and interest on qualifying Federal Direct loans after borrowers meet defined work and payment requirements.
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- Farmers and ranchers working full-time on a farm or ranch with a USDA farm number and an AD-20347 form on file would qualify to earn forgiveness after 120 monthly payments and continuous employment.
- Specific groups eligible include beginning farmers, individuals from populations underrepresented in agriculture, socially disadvantaged farmers, and veteran farmers.
- Eligible loans would include Federal Direct Stafford, Federal Direct PLUS, Federal Direct Unsubsidized Stafford, and Federal Direct Consolidation loans.
- To get cancellation a borrower must be employed full-time as an employee or manager of a qualified farm or ranch during the payment period and at the time of cancellation. Borrowers who entered under age 40 would be removed if they fail to meet cumulative full-time service limits of more than 7 years, and borrowers 40 or older would be removed if they fail to meet more than 3 years.
- The Secretary of Education, working with the Secretary of Agriculture, would have 180 days after enactment to issue final regulations and set up processes to track and verify farm employment.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Student loan forgiveness for farmers
If enacted, you would be able to get remaining principal and interest canceled on eligible Federal Direct loans after meeting program rules. To qualify you would need an eligible Direct loan that is not in default and to belong to a covered group at entry (for example, a beginning farmer, an underrepresented or socially disadvantaged farmer, or a veteran farmer). You would need to make 120 monthly qualifying payments after enactment under specified repayment plans and be employed full-time as an employee or manager of a qualified farm or ranch during the entire period you made those payments and at the time forgiveness is granted. Initial program entry requires employment full-time or part-time and a current AD-20347 farm form on file; the program uses USDA farm numbers and AD-20347 filings to verify farm status. If you were under age 40 when you entered, you would be removed from the program if you fail to be employed full-time for more than 7 cumulative years after entry; if you were 40 or older at entry the removal threshold is more than 3 cumulative years. Time on qualifying active duty or qualifying National Guard duty during a war or national emergency, and the 180-day period after demobilization, would not count toward those removal limits. If removed you generally could not be readmitted except for exceptional circumstances.
Rules for verifying farm work
If enacted, the Department of Education would have 180 days after enactment to issue final rules for the farm loan forgiveness program. The rules would be written in consultation with the Department of Agriculture. They would set how the department tracks and verifies work as an employee or manager of a qualified farm or ranch, including using USDA farm-number rules and AD-20347 filings.
Sponsors & CoSponsors
Sponsor
Murphy, Christopher [D-CT]
CT • D
Cosponsors
Sen. Smith, Tina [D-MN]
MN • D
Sponsored 9/14/2026
Sen. Baldwin, Tammy [D-WI]
WI • D
Sponsored 9/14/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov