Montana Agriculture Student Loan Assistance Program

This program was developed to encourage Montana’s college-educated youth to pursue a primary career in farming or ranching; reduce financial stress on Montana’s farm and ranch operators; and promote succession planning to preserve interest in Montana’s agricultural future. Successful applicants may receive loan assistance for up to five years for qualified education loans.

Please read the Program Guidance for full application instructions and eligibility requirements.

A qualified farmer or rancher is eligible for student loan assistance for up to a maximum of five years. The total amount of loan repayment assistance may not exceed 50% of the total amount of educational loans outstanding. The minimum award amount under this program is $5,000 dispersed over a five-year period. The maximum lifetime award under this program is $25,000, or the applicant’s actual eligible student loan indebtedness at the time eligibility is established, whichever is less.

An applicant must:

• be a Montana resident;
• have obtained an associate or baccalaureate degree from an approved Montana college or university;
• have an outstanding balance on an eligible student loan from obtaining such degree;
• be the primary owner, heir, successor or assignee of a farm or ranch in Montana;
• participate in the day-to-day operations of the farm or ranch;
• agree to operate a farm or ranch in Montana for at least five years; and
• be in a non-default status on a student loan made under an eligible federal education loan program.

To Apply: After reviewing the program guidance, fill out an application by going to funding.mt.gov and login with your username and password. Go through the following steps to open and start an application.

• Select "Funding Opportunities" from the menu list.
• Select the funding opportunity titled "Montana Agriculture Student Loan Assistance Program."
  
• To open an application, click "Start a New Application".

Deadlines:

• Applications must be submitted online by 2pm on June 1, 2020.
• Top applicants will be asked to present to the Agriculture Development Council on July 21, 2020.
• Award decisions will be made in August, 2020.

Questions: If you have any questions about eligibilty or how to apply please contact Tina Bateman at (406) 444-0134