Montana Code 90-9-502. 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:
Terms Used In Montana Code 90-9-502
- Farmer: means a person who:
(a)is engaged in agricultural activities, including ranching, at a farm;
(b)participates in the day-to-day operations of a farm; and
(c)is the primary owner of an agricultural operation, including an heir, a successor, or an assignee of the operation. See Montana Code 90-9-103
(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.)