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Serving: MN

Minnesota ag department offers Farm Business Management scholarships

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FINANCIAL AID: Minnesota farmers who are going through financial stress are encouraged to apply for farm business management tuition reimbursement through the Minnesota Department of Agriculture.
Federal CARES dollars will provide a 75% tuition reimbursement for farmers impacted by the pandemic.

The Minnesota Department of Agriculture is offering a new Farm Business Management Scholarship Program, funded through the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Nearly $250,000 in scholarships will be available to farmers negatively affected economically by COVID-19.

Priority will be given to farmers engaged in any stage of mediation or bankruptcy between March 2 and Dec. 30.

An estimated 350 Minnesota farmers are currently distressed due to COVID-19 impact, including farmers in mediation, bankruptcy, foreclosure and debt restructuring.

The FBM program offered by the Minnesota State Colleges and Universities system helps farmers manage their finances and teaches them how to navigate the complicated financial systems of farming.

The scholarships will cover approximately 75% of the cost of tuition.

To apply, contact an FBM instructor. Applicants must be registered for at least 10 credits for either fall, spring or a combination by Dec. 10.

Funding for this program is made available through the CARES Act and is part of a $7.7 million plan announced in late October by Gov. Tim Walz and Lt. Gov. Peggy Flanagan to support agricultural producers, meat processors and farmers affected by the COVID-19 pandemic.

To learn more, contact Keith Olander, director of the Minnesota State Northern Agricultural Center of Excellence, at keith.olander@clcmn.edu or 218-894-5163; or contact Brad Schloesser, director of the Minnesota State Southern Agricultural Center of Excellence, at brad.schloesser@southcentral.edu or 507-389-7263.

Source: Minnesota Department of Agriculture, which is solely responsible for the information provided and is wholly owned by the source. Informa Business Media and all of its subsidiaries are not responsible for any of the content contained in this information asset.
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