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FY2022 Student Loan Assistance Program

Opportunity Information

Title
FY2022 Student Loan Assistance Program
Description
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 outstanding loan amount is $10,000. 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. To Apply: After reviewing the program guidance, fill out an application by going to mt.amplifund.com 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 "FY2022 Student Loan Assistance Program." To open an application, click "Start a New Application". Deadlines: Applications must be submitted online by 5pm on May 23, 2022. Qualifying applications will be presented to the Agriculture Development Council on June 9, 2022. Award announcements will be made in June, 2022. Questions: If you have any questions about eligibility or how to apply please contact Bailey Kaskie at bailey.kaskie@mt.gov or (406) 444-0134 Note: Agriculture Development Council may decide to split available fund ($100,000) equally between all qualifying applicants.
Awarding Agency Name
Montana Department of Agriculture
Agency Contact Name
Bailey Kaskie
Agency Contact Phone
406-444-0134
Agency Contact Email
bailey.kaskie@mt.gov
Fund Activity Categories
Agriculture
Departments
Subjects
Opportunity Manager
Bailey Kaskie
Additional Users
Posted Date
4/8/2022
Is Published
Yes

Funding Information

Opportunity Funding
$100,000.00
Funding Sources
State
Funding Source Description
Funding authorized through section 90, chapter 9 of the Montana Code Annotated.

Award Information

Award Ceiling
$100,000.00
Award Floor
$5,000.00
Award Start Date
1/1/2029
Award End Date
12/31/2027
Award Announcement Date
6/10/2022
Award Type
Competitive

Submission Information

Submission Timeline Type
One Time
Submission Open Date
4/8/2022 12:00 AM (MDT)
Submission Close Date
5/25/2022 5:00 PM (MDT)

Technical Assistance Session

Technical Assistance Session
Yes
Session Date and Time
5/10/2022 2:00 PM

Eligibility Information

Eligibility Type
Public
Eligible Applicants
Individuals
Additional Eligibility Information
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.

Additional Information