Montana Code Annotated 2023



Part 5. Farmer Loan Repayment Assistance Program

Eligibility -- Amount Of Loan Repayment Assistance

90-9-502. (Temporary) Eligibility -- amount of loan repayment assistance. (1) A farmer is qualified for loan repayment assistance if the farmer:

(a) is a resident of Montana whose primary occupation is to operate a farm;

(b) has graduated from a postsecondary institution as defined in 20-26-603 with an associate degree or a baccalaureate degree; and

(c) commits to operate the farm for at least 5 years after applying for loan repayment assistance pursuant to this part.

(2) A farmer who is qualified pursuant to subsection (1) is eligible for loan repayment assistance for up to a maximum of 5 years.

(3) The total amount of loan repayment assistance for an eligible qualified farmer may not exceed 50% of the total amount of educational loans outstanding on the application date for loan repayment assistance.

(4) A farmer who qualifies for and receives loan repayment assistance shall repay that assistance if the farmer ceases to operate the farm before the end of the 5-year commitment. (Terminates June 30, 2029--sec. 16, Ch. 439, L. 2019.)

History: En. Sec. 2, Ch. 439, L. 2019; amd. Sec. 13, Ch. 14, L. 2021.