Rural Families To Benefit From Tester's Family Farm And Small Business Exemption Act

Montana Farmers Union President Walter Schweitzer praised the legislation of the Family Farm and Small Business Exemption Act, saying it’s needed to make sure farming and ranching families who are traditionally asset rich but cash poor receive the aid they need to pursue educational opportunities.

“Reinstating the Family Farm and Small Business Exemption for FAFSA will help a countless number of families in rural America to seek opportunities to receive a higher education. Thank you, Senator Tester, for fixing a wrong created by the COVID Relief Act of 2020,” Schweitzer said.

Tester’s bipartisan legislation would restore the exemptions for family farmland and small businesses from being declared as an asset on the Free Application for Federal Student Aid form, saving the children of farmers and small business owners from being denied sufficient aid in the application and financial aid calculation.

“As a third-generation farmer, I know firsthand that one-sizes-fits-all policies from Washington don’t work for Montana’s family farmers, ranchers, and small businesses. That’s why I’m teaming up with Republicans and Democrats to make sure Montana’s family farmers and ranchers don’t have to pay a higher price to send their kids to college. This bipartisan bill will pave the way for young Montana leaders to succeed well into the future while ensuring our family farmers can continue to feed the world,” Tester said in a release from his office.

“Without this family farm and small business exemption, I would have been forced to put our family farm at financial risk to pay the tuition for my daughters’ higher education. Thanks to Tester’s bill to reinstate the exemption, Montana farmers, ranchers, and small business owners won’t have to choose between saving their business or making sure their kids get the education they need to pursue the careers of their dreams,” Schweitzer said.

Tester is joined on the bill by Senators Ernst (R-Iowa), Grassley (R-Iowa), Lummis (R-Wyo.), Moran (R-Kans.), Ricketts (R-Neb.), and Braun (R-Ind.).