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Montana Title 90. Planning, Research, and Development § 90-9-502. Eligibility--amount of loan repayment assistance

Current as of January 01, 2024 | Updated by Findlaw Staff

<Section terminates June 30, 2029.>

(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.

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Cite this article: FindLaw.com - Montana Title 90. Planning, Research, and Development § 90-9-502. Eligibility--amount of loan repayment assistance - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-90-planning-research-and-development/mt-st-90-9-502/

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