H.R. 9974: Young Farmer Success Act

This bill would expand the federal student loan forgiveness program for public service workers to include some people who work on farms or ranches.

What changes

• Under current law, certain full-time workers in public service jobs can qualify for student loan forgiveness through the Federal Direct Loan program after meeting the program’s requirements.
• This bill would add a new category of eligible employment: a full-time job doing farm work as an employee or manager of a qualified farm or ranch.

Who would count as working at a “qualified farm or ranch”

The bill defines a qualified farm or ranch based on its annual gross revenue from the sale of agricultural products:

• For 2026, the farm or ranch must have at least $35,000 in such revenue.
• For later years, that dollar amount would increase each year based on the Consumer Price Index, as determined by the Education Secretary.

Practical effect

If enacted, the bill would make more farm and ranch workers eligible to have their federal student loans forgiven under the public service loan forgiveness rules, assuming they meet the program’s other requirements. The bill does not change the loan forgiveness program for other types of workers, and it does not create a new loan program.

Relevant Companies

None found