By Miranda Roberts
With the growing nightmare of student loan debt in the United States, a new problem has emerged.[i] Young farmers obtaining agricultural degrees in hopes of improving the success of their farms are struggling to repay debt from student loans.[ii] However, a new solution may be in the works.[iii] Many advocates are now suggesting that farmers should be eligible for debt cancellation and student loan forgiveness, based on the notion that farming is a public service.[iv]
Introduced in a bipartisan effort, The Young Farmers Success Act (HR 3232) would officially classify farming as a public service, in terms of student loan forgiveness.[v] Proponents suggest the important, even crucial job that farmers do likens the profession to public service.[vi] Like the existing Loan Forgiveness Program for other public service professions, including both nurses and teachers, the bill would provide debt cancellation for farmers after ten years of qualifying payments.[vii] This would allow farmers to obtain college degrees without looming debt stifling their success.[viii]
Farming is a complex, changing industry that requires advanced knowledge and funding to thrive.[ix] Not only do farmers need to learn about new agricultural methods and trends, but they also need to learn how to become business-savvy.[x] To be successful, they must be able to market their products and manage their finances.[xi] Farming is also exceptionally expensive.[xii] Once young farmers obtain their degrees, along with the constant weight of student loan debt on their shoulders, they still have to face increasing land prices, high costs of machinery, and a lower salary than the majority of their classmates.[xiii] Without the prospect of student loan forgiveness, this country faces a shortage of future farmers, which could easily lead to a serious agricultural crisis.[xiv]
However, not all people believe student loan forgiveness is the answer to farmers’ debt problems.[xv] Some opponents have argued that student loan debt is an issue for everyone, not just farmers, and should be addressed as a general problem.[xvi] Others contest the application of public service to farming, due to the industry falling into the for-profit sector.[xvii] Even more, cite the issues within the Public Service Loan Forgiveness Program itself, namely the expense of the program and the high number of applicants it consistently rejects (roughly 99%).[xviii]
Despite its opposition, categorizing farming as a public service and allowing young farmers to have their student loans forgiven is a logical, necessary move by the legislature.[xix] Agriculture and farming are a vital part of our society.[xx] As the average age of our nation’s farmers continues to increase, while the overall number of farmers continues to decrease, a new generation of farmers is needed.[xxi] Removing the obstacle of student loan debt will allow more young farmers to obtain degrees without fear of financial failure.[xxii] These degrees will allow them to keep up with cutting edge agricultural technology, learn valuable business skills, and improve the overall success of their farm.[xxiii]
Still, the future of farmers’ student loan debt is still uncertain. Will the proposed legislation officially make farming a public service, allow a new generation of farmers to thrive, and remove this financial burden from a troubled industry? Or will the bill fail, drive more young people away from farming, and force an agricultural crisis upon the country? Only time and the legislature, will tell.
[i] See Sam Schipani, These bills outline solutions to student loan debt for farmers. Will they pass?, Hello Homestead (Sept. 30, 2019), https://hellohomestead.com/these-bills-outline-solutions-to-student-loan-debt-for-farmers-will-they-pass/ [https://perma.cc/B2FC-EK5Y].
[ii] See Student Loan Campaign, Nat’l. Young Farmers Coalition (last visited Oct. 22, 2019), https://www.youngfarmers.org/studentloans/ [https://perma.cc/6KSC-BNWJ]; see also Ryan Lane, Growing Movement Seeks Student Loan Forgiveness for Farmers, U.S. News & World Rep. (June 7, 2017), https://www.usnews.com/education/blogs/student-loan-ranger/articles/2017-06-07/growing-movement-seeks-student-loan-forgiveness-for-farmers [https://perma.cc/S6TG-SWY5].
[iii] See Lane, supra note 3.
[iv] See College loan forgiveness sought for young farmers, Feedstuffs (June 17, 2019), https://www.feedstuffs.com/news/college-loan-forgiveness-sought-young-farmers [https://perma.cc/9XQP-PTS8]; see Jessica Fu, Should we forgive student loans for farmers?, The New Food Econ. (Sept. 10, 2019), https://newfoodeconomy.org/young-farmer-student-loan-debt-forgiveness-public-service/ [https://perma.cc/X33C-PYXG].
[v] Lane, supra note 3; Schipani, supra note 1.
[vi] See Fu, supra note 4.
[vii] Schipani, supra note 1; Student Loan Campaign, supra note 2.
[viii] See Lisa Luciani, Bipartisan house bill seeks to mitigate student loan debt for young farmers entering agriculture, Land For Good (July 2, 2019), https://www.landforgood.org/student-loan-debt-young-farmers/ [https://perma.cc/J4DC-E5ZG].
[ix] Schipani, supra note 1.
[x] See id.
[xi] See id.
[xii] College loan forgiveness sought for young farmers, supra note 4.
[xiii] See id.; See Lane, supra note 3.
[xiv] See College loan forgiveness sought for young farmers, supra note 4.
[xv] See Fu, supra note 4.
[xvi] See id.
[xvii] See id.
[xviii] See Fu, supra note 4; see also Schipani, supra note 1.
[xix] See College loan forgiveness sought for young farmers, supra note 4.
[xx] See id.
[xxi] See Schipani, supra note 1; see also Student Loan Campaign, supra note 2.
[xxii] See College loan forgiveness sought for young farmers, supra note 4.
[xxiii] See Schipani, supra note 1.